GBPJPY: Downtrend Remains IntactGBP/JPYOANDA:GBPJPYEldric_Morran_GBPJPY maintains a bearish structure on the H3 timeframe, as the price faces repeated rejection at the resistance level of the descending channel. Following a rebound toward the 218.00 level, buying pressure proved insufficient to trigger a breakout, indicating that sellers remain in control of this area. Technically, the price is trading below the EMA34 and EMA89 and moving within a descending channel pattern. The 218.00 level has become a key resistance point where sellers may re-enter the market should signs of price rejection emerge. I favor a bearish outlook for GBPJPY given the failure to break above the 218.00 level. If selling pressure resumes, the next targets could be the 217.00 support zone and, further down, the lower boundary of the descending channel. This bearish scenario would be invalidated if the price closes decisively above 218.00 and breaks the current channel structure.