GJGreat British Pound vs. Japanese YenFX:GBPJPYAsifAwan11📌 Market Structure The pair experienced a strong bearish move from around 215.40–215.50. Price formed a double bottom near 212.40–212.50, indicating buyers are defending this area. RSI shows bullish divergence, suggesting bearish momentum is weakening. Price has already rebounded and is consolidating below resistance. Key Levels Support 212.40 – 212.50 (double bottom zone) 212.90 (minor support) Resistance 213.60 – 213.70 (neckline/resistance area) 214.70 – 214.90 (next target) 215.10 – 215.40 (major resistance) Bullish Scenario ✅ If price closes above 213.60–213.70 on the 1H timeframe: Targets 214.20 214.70 215.10+ This aligns with the measured move from the double-bottom pattern. Bearish Scenario ❌ If price fails to break 213.60 and closes below 212.90, sellers could retest: 212.50 212.40 (double bottom support) A break below 212.40 would invalidate the bullish setup and could open the way toward 211.80–212.00. Trading Idea Conservative Buy Entry: After a confirmed 1H candle closes above 213.65 Stop Loss: Below 212.80 Target 1: 214.20 Target 2: 214.80 Target 3: 215.20 Overall Bias Short-term: Bullish 📈 The combination of bullish RSI divergence + double bottom formation gives the bulls an advantage, but confirmation requires a breakout above 213.60–213.70.