The intraday bias for GBP/JPY has shifted to neutral following a recent pullback. Support at 212.36 remains critical, as a hold above this level could sustain the rally towards 216.58, the previous high. For now, risk remains on the upside as long as 212.36 holds, with potential for retesting key resistance.
From a longer-term perspective, the uptrend remains intact, with potential to reach the 61.8% Fibonacci projection at 208.09 (calculated from the 2022 low to the 2024 high). However, a sustained drop below the 55-week EMA at 207.52 would indicate a shift to a medium-term downtrend targeting the 184.35 support level.
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