GBPJPY London briefing — 2026-10-22

BIAS BULLISH. Daily trend, H4 EMA, and H4 fair value gaps drive bias despite H1 bearish FVG and liquidity sweep of highs. KEY LEVELS R: 211, 211.99953 | S: 210.5, 206.88927 NEWS 🔴 BoE Governor Bailey speech (Thu 10:50 UTC) 🟡 GfK Consumer Confidence (Thu 23:01 UTC) 🟡 Japan National CPI YoY (Thu 23:30 UTC) SESSION OUTLOOK Bailey speech triggers volatility; watch reaction at 211 resistance. H1 bearish FVG may cap upside before London close.

Key Levels

R: 211.000 · 212.000

S: 210.500 · 206.889