GBPUSD Range Fakeout → Bearish Breakdown Toward Demand
GBPUSD on the 30m timeframe shows a clean shift from an ascending channel into a range, followed by a strong bearish breakdown. Price rejected the range highs, formed a distribution zone, and then broke structure to the downside, creating a descending channel.
After the breakdown, price pulled back into the supply trendline near 1.3588, giving a classic retest opportunity. The reaction from this supply area suggests continuation toward the marked demand zone around 1.3507.
This setup highlights:
Range fakeout and market structure shift
Bearish channel formation after breakdown
Supply trendline retest entry
Targeting demand liquidity below
As long as price holds below the supply line, bearish momentum remains valid toward the demand area.
Risk Management: