GBPUSD Price Update Clean & Clear Explanation
GBP/USD is currently trading within a broader bullish structure, but recent price action shows signs of short-term bearish pressure after rejection from a key resistance zone.
A Price previously respected an ascending channel, making higher highs and higher lows. However, the latest impulsive bearish candle indicates a breakdown from the rising structure, suggesting weakening bullish momentum.
A strong resistance zone is marked around 1.3810 1.3835, where price was rejected aggressively. After the rejection, price dropped sharply and is now attempting a minor pullback toward the previous structure and resistance area.
If price fails to hold above this resistance, a continuation to the downside is likely. The projected bearish move targets two major support zones: first support near 1.3720 and support around 1.3680,
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