GBPJPY (4H) – Potential Long Setup at FVG + BOS ConfluenceGBP/JPYOANDA:GBPJPYCIPHERCHART📌 Market Structure Overview Timeframe: 4H (Medium-term). Market Structure: Strongly Bullish. The market has been consistently printing Higher Highs and Higher Lows, confirmed by successive Break of Structure (BOS). The most recent BOS occurred around the 218.000 area . 📌 Technical Analysis & Price Action Impulsive Move: The strong bullish rally (around July 15) left behind a significant FVG (Fair Value Gap). The impulsive candle subsequently established a new high at 219.600 Corrective Retracement: After tapping the high, price has been pulling back with smaller-bodied candles, indicating weakening bearish momentum. This downside move looks like a healthy liquidity mitigation to fill the imbalance. Key Confluence Zone: The 217.900 – 218.000 area stands out as a high-probability demand zone due to the confluence of: The previous BOS level (Old Resistance turning into New Support). An unfilled 4H FVG. 🎯 Trading Plan We will patiently wait for price to retrace deeper into the Discount Zone before looking for buy setups aligned with the major trend. Direction: LONG Expected Entry Zone: 217.900 – 218.000 (Look for lower timeframe confirmation like a 15m/1H CHoCH within this zone to refine entry). Stop Loss (SL): 217.300 (Placed below the FVG and key support structural low). Take Profit (TP): 219.600 (Targeting a retest of the recent swing high). Risk/Reward (R:R) Ratio: ~ 2.5R - 3R