GBP/USD is showing strong bearish momentum after breaking below the ascending trendline and key intraday support around 1.3510–1.3530. Price rejected the resistance zone near 1.3580 and dropped aggressively into the 1.3360 demand area.
Current structure suggests a short-term corrective rebound may occur from the 1.3360 support zone toward 1.3445. However, overall market sentiment remains bearish unless price reclaims and holds above 1.3510.
Key Levels:
- Resistance: 1.3445 → 1.3510 → 1.3580
- Support: 1.3360 → 1.3270
Trading Outlook:
- Bullish scenario: A bounce from 1.3360 could push price toward 1.3445 for a retracement move.
- Bearish scenario: Failure to hold above 1.3445 may trigger another sell-off toward 1.3270.
Bias: Short-term bullish correction inside a larger bearish structure.
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