GBP/JPY Neutral Bias Continues as Uptrend Remains Intact

The GBP/JPY currency pair is in a neutral bias phase at this point. Consolidations are expected to continue below 219.56, and support from 216.39 should contain any potential downside movement.

A break above 219.56 would likely extend the larger uptrend to the 220.90 Fibonacci projection level. However, if 216.39 is broken, a deeper decline towards 212.36 support may occur.

In the bigger picture, the long-term uptrend in GBP/JPY is in progress, with the next target being the 61.8% projection of the 148.93 (2022 low) to 208.09 (2024 high) from 184.35 at 220.90.