GBPJPY London briefing — 2026-09-08

BIAS NEUTRAL — RSI deeply oversold (22.44) suggests bounce potential, but H1/H4 EMAs and D1 structure remain bearish; conflicting signals warrant caution. KEY LEVELS R: 208.5, 217.48 | S: 208.0, 207.09 NEWS 🔴 BoE Monetary Policy Report Hearings & Governor Bailey Speech — Tue 13:15 UTC 🟡 JPY Money Supply M2+CD (YoY) — Tue 23:50 UTC SESSION OUTLOOK BoE hearings drive GBP volatility early; watch 208 support hold. Oversold conditions may trigger relief rally, but trend remains bearish without break above 208.5.

Key Levels

R: 208.500 · 217.477

S: 208.000 · 207.088