Has the Sell-Off Reached Exhaustion? | GBPJPY 01/08GBP/JPYOANDA:GBPJPYAdrian_NovaTraderBritish Pound / Japanese Yen has experienced a strong bearish expansion after rejecting the H4 Order Block around 218.50. The recent decline swept major Sell-Side Liquidity (SSL) and reached a significant liquidity zone, where buyers are beginning to react. Although the higher-timeframe structure remains bearish, my bias is that this move could represent a liquidity grab before a short-term bullish retracement unfolds. As long as price continues to defend the current liquidity zone, a corrective recovery toward nearby inefficiencies remains a valid scenario. The first confirmation would be a reclaim of the 214.20–214.50 POI. If buyers can establish acceptance above this area, price may continue toward the H4 Fair Value Gap (FVG). A stronger recovery could later extend into the H4 Order Block, where sellers may become active again. 🔍 Market Structure H4 market structure remains bearish. Price swept major Sell-Side Liquidity (SSL). Buyers are reacting from a key liquidity zone. Current expectation favors a corrective bullish retracement rather than a full trend reversal. 📌 Key Levels Liquidity Support: 212.20–212.50 POI: 214.20–214.50 H4 FVG: 216.50–217.40 H4 Order Block: 218.20–218.60 📈 My Trading Plan My bias: Cautiously Bullish I will monitor price action around the liquidity support for bullish confirmation before considering long opportunities. A successful reclaim of the POI would strengthen the recovery scenario, with the H4 FVG serving as the primary upside objective. If bullish momentum remains strong, price could extend toward the H4 Order Block. 🎯 Potential Targets TP1: 214.50 (POI) TP2: 216.50 (H4 FVG) TP3: 218.20 (H4 Order Block) ❌ Invalidation A sustained H4 close below 212.20 would invalidate the corrective recovery scenario and suggest that sellers remain in control, increasing the probability of further downside. This is my personal market analysis for educational purposes only, not financial advice. Always do your own research and manage risk.