GBPJPY: Downward pressure returns.

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GBPJPY: Downward pressure returns.GBP/JPYOANDA:GBPJPYJolie_joliGBPJPY is showing signs of weakness after facing repeated rejection at the 218.10 resistance level. The recent decline has broken the previous equilibrium zone, indicating that sellers are gradually regaining control. On the H2 timeframe, the price remains below the downtrend line, and the overhead Fair Value Gaps (FVGs) are acting as supply zones where sellers may continue to exert pressure. The failure to sustain a recovery suggests that current buying momentum is insufficient to reverse the market structure. I favor a scenario where GBPJPY continues to decline if the price attempts to retest the 218.10 level but fails. In that case, the next target would be the 217.30 support zone, with further downside potential if selling pressure intensifies. The bearish scenario would be invalidated if the price breaks and holds above 218.10, as this could trigger a new recovery phase.