GBPJPY London briefing — 2026-10-16

BIAS BULLISH. D1 structure, H4 EMA, and H1 EMA alignment combined with H1 fair value gap support drive upside conviction. KEY LEVELS R: 210.5, 210.92 | S: 210, 206.89 NEWS CFTC JPY NC Net Positions (Fri 19:30 UTC) 🟡 CFTC GBP NC Net Positions (Fri 19:30 UTC) 🟡 SESSION OUTLOOK London opens near resistance. Watch for breakout confirmation above 210.5 or rejection back to 210 support zone.

Key Levels

R: 210.500 · 210.920

S: 210.000 · 206.889