GBPJPY LONG · FOREX

On the H4 chart for GBP/JPY, a harmonic Bat/Gartley pattern is visible with X-A-B-C-D structure, where the D completion zone aligns near 211.80, coinciding with the 1.421 Fibonacci extension of the BC leg and a rising long-term trendline acting as dynamic support. The highlighted BUY zone between 211.80 and 211.12 represents the Potential Reversal Zone (PRZ) of the harmonic pattern confluencing with structural support. Price is currently trading at 212.85 above the entry zone, with the projected target at 214.41 corresponding to the prior resistance/consolidation area. As you can see on the chart, we are already in a long (buy) position based on the price bouncing off the lower channel line. However, the complete A setup for a BUY would be at the price level of 211.800.