GBPJPY: Head & Shoulders Pattern Creating Downward PressureGBP/JPYOANDA:GBPJPYParadise_NoirOn the H4 timeframe, GBPJPY is showing clearer signs of weakness after repeatedly failing to break through the 215.50 resistance level. The chart shows a well-formed Head & Shoulders pattern, with the left shoulder, head, and right shoulder all positioned just below the upper supply zone. The current price is around 214.762, close to the Ichimoku zone and unable to break through 215.000. This indicates a slowdown in buying pressure, while sellers are still effectively defending the resistance. If the price rebounds to the right shoulder but is again rejected, downward pressure could quickly return. Regarding news, the market is awaiting the BOJ, which is expected to raise interest rates to 1.00%, the highest level in decades. If the BOJ signals a more hawkish stance, the JPY could strengthen and put downward pressure on GBPJPY. Reference Strategy: SELL: 215.000 – 215.176 SL: above 215.600 TP: 213.600 Conclusion: If GBPJPY fails to break above 215.000, a head-and-shoulders pattern could trigger a decline towards lower support levels.