GBPJPY London briefing — 2026-07-31

BIAS BEARISH. H1 EMA bearish and RSI neutral-oversold (37.73) support downside momentum, despite H4 neutrality creating minor conflict. KEY LEVELS R: 216.00, 219.65 | S: 215.50, 212.41 NEWS CFTC JPY NC Net Positions – Fri 31 Jul 19:30 UTC 🟡 CFTC GBP NC Net Positions – Fri 31 Jul 19:30 UTC 🟡 SESSION OUTLOOK Watch 215.50 support hold; break below triggers 212.41 test. CFTC data release may spike volatility late London.

Key Levels

R: 216.000 · 219.651

S: 215.500 · 212.407