The pair has been trading inside a key supply zone between 1.3400 – 1.3440, and is now showing signs of buyer exhaustion. After a strong rally off the 1.3264 demand zone, price is consolidating under resistance — a classic signal of potential distribution.
Key Technical Levels:
Supply Zone: 1.3400 – 1.3440
Resistance: 1.34398 (strong upper barrier)
Support 1: 1.33546 (previous breakout level)
Support 2 / Demand Zone: 1.32644 (orange zone – high-volume demand)
What to Watch:
Failure to break above 1.3440 confirms seller strength
Break below 1.33546 = confirmation of bearish momentum
Target zone: 1.3264 demand, which also aligns with past accumulation
Setup Idea:
Short opportunity if price retests and fails to close above the 1.3410–1.3430 range with a clean rejection candle. Eye a swing move toward 1.3354, then potentially 1.3264.
Risk Tip:
Manage position sizing carefully near high-volume nodes. Wait for strong bearish confirmation — no need to rush entries in low volatility.
---
Events to Watch:
Major USD and GBP news lined up for the 23rd — expect volatility. Could be the catalyst for the next leg down.
Do you think GBPUSD is topping out? Or is it gearing up for another leg higher? Drop your analysis below!
Smash that like button & follow for real-time setups and breakdowns.
Key Technical Levels:
Supply Zone: 1.3400 – 1.3440
Resistance: 1.34398 (strong upper barrier)
Support 1: 1.33546 (previous breakout level)
Support 2 / Demand Zone: 1.32644 (orange zone – high-volume demand)
What to Watch:
Failure to break above 1.3440 confirms seller strength
Break below 1.33546 = confirmation of bearish momentum
Target zone: 1.3264 demand, which also aligns with past accumulation
Setup Idea:
Short opportunity if price retests and fails to close above the 1.3410–1.3430 range with a clean rejection candle. Eye a swing move toward 1.3354, then potentially 1.3264.
Risk Tip:
Manage position sizing carefully near high-volume nodes. Wait for strong bearish confirmation — no need to rush entries in low volatility.
---
Events to Watch:
Major USD and GBP news lined up for the 23rd — expect volatility. Could be the catalyst for the next leg down.
Do you think GBPUSD is topping out? Or is it gearing up for another leg higher? Drop your analysis below!
Smash that like button & follow for real-time setups and breakdowns.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.