• GBP/JPY trades at 209.281 following a reversal from 210.313.

  • Wave (d) could extend toward 207.50 after a corrective rebound.

  • A break below 206.884 invalidates the higher-degree triangle; a move above 210.313 supports further wave (c) development.

GBP/JPY Market Outlook: Sterling-yen remains sensitive to monetary-policy expectations from the Bank of England and Bank of Japan. Changes in interest-rate expectations could influence the pair's next move.

GBP/JPY Elliott Wave Analysis

GBP/JPY Forecast: Elliott Wave Triangle Faces a Critical Test

The four-hour chart shows a completed smaller a–b–c–d–e triangle within a higher-degree corrective structure. The subsequent advance reached 210.313, potentially completing wave (c).

Following that high, GBP/JPY declined before recovering to 209.281, suggesting that wave (d) may be developing.

The preferred scenario anticipates a wave (b) rebound toward 209.50, followed by a decline toward 207.50 to complete wave (d).

Invalidation: A break below 206.884 cancels the higher-degree triangle scenario and favors continued downside.

Alternative: A move above 210.313 indicates that higher-degree wave (c) remains in progress.