GBPJPY London briefing — 2026-09-25

BIAS BEARISH. Trend vote (D1+EMA H4+EMA H1) combined with H4 and H1 fair value gaps sustain downside pressure despite neutral RSI. KEY LEVELS R: 209.5, 216.8574 | S: 209, 207.08795 NEWS CFTC JPY NC Net Positions (Fri 19:30 UTC) 🟡 CFTC GBP NC Net Positions (Fri 19:30 UTC) 🟡 SESSION OUTLOOK Watch for London retest of 209 support; bearish FVG alignment favors probes toward 207.08795. CFTC data may signal positioning shifts.

Key Levels

R: 209.500 · 216.857

S: 209.000 · 207.088