10 October 2025,05:28
Chart The Market
10 October 2025, 05:28
GBPJPY, H4:
The GBP/JPY pair has undergone a technical retracement following a strong rally that propelled it more than 3% to its weekly peak. The pullback has filled the Fair Value Gap (FVG) that emerged during the previous advance, bringing the pair to test crucial support at the 203.00 level—the lower boundary of this technical imbalance.
The ability to maintain support above 203.00 is critical for the near-term outlook. A successful defense of this level would suggest the broader bullish structure remains intact, potentially setting the stage for a resumption of the upward trend. Conversely, a break below this threshold would indicate a more significant deterioration in sentiment and could trigger a deeper correction toward the next support zone near 201.50.
Momentum indicators reflect this moderation in bullish energy. The Relative Strength Index has retreated from overbought territory, indicating a reduction in buying pressure, while the Moving Average Convergence Divergence has generated a bearish crossover—often referred to as a “death cross”—at elevated levels. This configuration suggests that the previously strong upward momentum is easing, though it does not necessarily imply an immediate trend reversal.
Resistance Levels: 204.05, 206.10
Support Levels: 202.60, 201.06
ETH, H4
Ethereum has extended its decline, breaking decisively below the crucial $4,300 support level—a zone that previously provided stability during a 10-session consolidation period. This breakdown signals a significant deterioration in market structure and reinforces a bearish near-term bias for the cryptocurrency.
While the breach of this key technical level suggests further downside potential, the liquidity grab at this historically significant zone may create conditions for a potential reversal. Markets often exhibit counter-trend moves after such liquidity events, though any rebound would need to reclaim the $4,300 level to suggest a meaningful recovery is underway.
Momentum indicators are aligned with the negative price action. The Relative Strength Index is approaching oversold territory, reflecting intensifying selling pressure, while the Moving Average Convergence Divergence has crossed below its zero line, confirming that bearish momentum is accelerating.
Resistance Levels: 4510.00, 4820.00
Support Levels:4270.00, 4070.00
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