GBPJPY London briefing — 2026-09-04

BIAS NEUTRAL — RSI oversold (29.27) suggests bounce potential, but aligned bearish EMA structure (H4/H1) and bearish D1 framework conflict on conviction; no clear directional edge. KEY LEVELS R: 212.00, 217.48 | S: 211.50, 209.97 NEWS 🔴 BoE Governor Bailey speech 08:50 UTC | 🟡 S&P Global Construction PMI 08:30 UTC SESSION OUTLOOK Bailey speech drives volatility; watch if GBP strength tests 212 resistance or if oversold bounce stalls. CFTC JPY data post-London may extend moves.

Key Levels

R: 212.000 · 217.477

S: 211.500 · 209.968