GBP/JPY Buy Setup – Targeting the Next Leg Up from Key Order Block
The GBP/JPY pair is currently presenting a promising long setup on the 1-hour chart. After a strong bullish rally that broke significant highs, the market has pulled back and is consolidating near a previously defined bullish order block in the 193.865–193.418 region.
This zone aligns with an earlier accumulation area that fueled the breakout above the previous weekly high (PWH), making it a high-probability area for bullish continuation. The structure remains bullish, with higher highs and higher lows intact. Below the order block lies a 4H liquidity-protected low around 192.878, further supporting the idea of a bullish defense at this level.
A buy from the order block area offers a favorable risk-reward opportunity. Potential upside targets include:
195.450 – minor resistance and potential TP1
196.736– secondary target (previous swing high)
198.022 – major target aligned with projected bullish continuation
As long as price respects the protected low and order block, buyers have control, and a move toward higher targets remains likely.
Note: Always manage your risk. A daily close below the order block or a break of the protected low could invalidate this setup.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.