GBP/JPY Intraday Short: Targeting a Pullback from Resistance Amidst Bullish Momentum

Market Context & Technical Observations

Good morning, traders. Looking at GBP/JPY, we've seen a strong bullish trend persist, with the pair currently trading around 189.99 after seeing a 0.47% gain over the last 24 hours. The day range has been significant, from 188.65 up to 191.33. While the overall trend remains clearly bullish, my technical analysis indicates we are approaching a key resistance zone that could present an intraday short opportunity for a pullback. The 191.33 level, which was yesterday's high and a recent resistance point, is proving to be a significant hurdle.

High Probability Zone for Reversal

Despite the underlying bullish momentum, my screens are suggesting that GBP/JPY might be entering a "high probability zone" for a