GBPJPY 19/07 Is Retracing Into Value AgainGBP/JPYOANDA:GBPJPYAdrian_NovaTraderGBPJPY has rejected the recent Buy-Side Liquidity (BSL) after an aggressive bullish expansion, leading many traders to believe that a larger bearish reversal may already be underway. The problem? A rejection from liquidity alone does not confirm a trend reversal. While the current decline has introduced short-term selling pressure, the H4 bullish structure remains intact. Price is now approaching a high-probability reaction area around the Point of Control (POC) and H4 Order Block (OB), where buyers could attempt to regain control. The current move appears to be a healthy retracement rather than a confirmed bearish reversal. For now, the market is correcting. But the higher-timeframe trend hasn't been broken yet. Currently • Price swept the recent Buy-Side Liquidity (BSL) • Short-term bearish momentum is developing • H4 ascending channel remains intact • Price is retracing toward the POC and H4 Order Block • Major demand remains below current price • Higher-timeframe structure continues to favor buyers • A bullish reaction from demand could support trend continuation Trading Plan Bias: Bullish Retracement Within an H4 Uptrend Main Zone • 216.60–217.10 → H4 POC + Order Block Execution Idea As long as GBPJPY continues respecting the H4 ascending channel and the Order Block, the current decline can be viewed as a corrective pullback within the broader uptrend. The primary area to monitor is the H4 POC and Order Block around 216.60–217.10. If buyers produce a strong bullish reaction from this zone and reclaim short-term momentum, price may continue toward the recent highs before attempting another sweep of the Buy-Side Liquidity. However, if price fails to hold this demand area, the probability of a deeper correction toward the lower H4 demand will increase. Targets → TP1: 218.00 → Internal Resistance → TP2: 219.00 → Previous Swing High → TP3: 219.50 → Buy-Side Liquidity (BSL) → TP4: New Highs Above BSL Invalidation A confirmed H4 candle close below the H4 Order Block, followed by a loss of the ascending channel structure, would weaken the bullish continuation scenario and increase the probability of a deeper correction. Key Insight Trends rarely move in a straight line. Healthy pullbacks into demand often provide stronger confirmation than chasing momentum at the highs. Key Question Is GBPJPY simply retracing into value before another leg higher, or is this the first sign of a larger H4 correction?