GBPJPY London briefing — 2026-10-02

BIAS BEARISH. D1 structure, H4 EMA, and H1 EMA alignment combined with H4 fair value gaps drive downside bias despite neutral RSI. KEY LEVELS R: 208.5, 211.29 | S: 208.00, 206.89 NEWS CFTC JPY NC Net Positions — Fri 02 Oct 19:30 UTC 🟡 CFTC GBP NC Net Positions — Fri 02 Oct 19:30 UTC 🟡 SESSION OUTLOOK London session tests support at 208 amid CFTC data release. Watch for breakdown confirmation below 206.89.

Key Levels

R: 208.500 · 211.287

S: 208.000 · 206.889