Published: 2026-07-31T07:30:21.000Z
Chart GBP/JPY Update: Consolidating sharp losses
1
Choppy trade around the 218.00 level gave way to sharp losses before stabilising at the 212.40, June low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 218.00 | * | congestion | S1 | 214.50/00 | * | congestion | |
| R3 | 217.15 | * | 29 Jul low | S2 | 213.50 | * | congestion | |
| R2 | 216.60 | ** | Apr high | S3 | 212.40 | ** | Jun low | |
| R1 | 216.00 | * | congestion | S4 | 212.00 | * | congestion |
Asterisk denotes strength of level
07:25 GMT - Choppy trade around the 218.00 level gave way to sharp losses through the 215.00/214.00 congestion area before stabilising at the 212.40, June low. Bounce from the latter see prices consolidating sharp losses from the 218.70 high to regain the 214.50/214.00 congestion area. However, this is expected to give way to renewed selling pressure below 214.00 will return focus to the 212.40 low and see room for deeper pullback to retrace February/July rally. Lower will see room to 212.00 congestion and 210.40, late-April low.