GBPJPY London briefing — 2026-10-20

BIAS BULLISH. D1 + H4 + H1 trend alignment and H4 fair value gaps drive this; liquidity sweep of highs and H1 FVG gaps are noted but subordinate. KEY LEVELS R: 211.5, 211.22 | S: 211.00, 206.89 NEWS 🟡 GBP 10-y Bond Auction (Tue 09:30 UTC) 🟡 JPY Merchandise Trade & Exports (Tue 23:50 UTC) SESSION OUTLOOK London session opens near resistance. Bond auction reaction sets tone; watch for sweep confirmation into H4 bullish structure through London close.

Key Levels

R: 211.221 · 211.500

S: 211.000 · 206.889