Lingrid | GBPJPY Channel Break Triggers Acceleration
FX:GBPJPY remains supported above the rising trendline after printing consecutive higher lows, suggesting buyers may still be in control of the structure. Price is compressing beneath the upper boundary of the ascending channel while holding above the previous weekly high area, a zone that could act as a springboard. The recent pullback looks corrective, with no decisive bearish follow-through so far.
If price continues to respect the 212.35 support, momentum could expand toward the 214.00 resistance, where the higher-timeframe supply converge. A confirmed push through this ceiling may trigger acceleration, as liquidity above recent highs remains untested.
➡️ Primary scenario: hold above 212.35 → continuation toward 214.00
⚠️ Risk scenario: sustained acceptance below 211.30 may weaken the bullish channel and delay upside expansion
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!