Short

GBPUSD Short-Term Top Forming Target 1.3360

GBPUSD has bounced slightly, but the structure remains heavy and indecisive. However, EURUSD and Gold 4H charts are starting to break down clearly.

EURUSD is dragging lower step by step.

Gold broke a key support zone.

Both are signaling that USD strength is returning — and GBPUSD is likely to follow.

🔍 Technical View
Price rejected from the 1.3465–1.3470 zone (FOMC CPI high)

Lower highs building on the 1H and 4H timeframes

Trading below the 50% retracement of the recent CPI rally

🧠 Key Observation
“A sharp drop on EURUSD from current price will confirm a top is in place on GBPUSD.”
If EURUSD breaks 1.1270 decisively, expect GBPUSD to follow with increased momentum.

🔽 Trade Bias
Bearish below 1.3435

Targets:

1.3360 (first fib cluster + liquidity pocket)

1.3330 (full wave completion)

Invalidation: Clear close above 1.3470

⚠️ Watch for:
U.S. PMI revisions or FOMC speakers to fuel USD move

GBP Retail Sales data tomorrow — potential catalyst

Note

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