**Pair:** GBPUSD
**Current Price:** ~1.3340
**Bias:** Bearish
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**Analysis:**
GBPUSD has rejected a key resistance level around **1.3340**, which has historically acted as a strong barrier. After multiple failed attempts to break above, price formed a **lower high** and is now pushing lower with bearish momentum.
The recent move suggests a shift in sentiment, with sellers likely aiming for the next key levels near **1.3000** and potentially **1.2800**, where prior support zones exist.
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**Technical Highlights:**
- **Resistance Level:** 1.3340 (historical supply zone)
- **Market Structure:** Lower highs, early signs of bearish trend
- **Target Zone:** 1.3000 – 1.2800
- **Invalidation:** Sustained move above 1.3500
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**Trade Idea (Not Financial Advice):**
Look for potential short opportunities on lower timeframes, ideally after a bearish retest near 1.3340 with confirmation.
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> **Disclaimer:**
> This analysis is for educational purposes only and does not constitute financial advice. Trading involves significant risk, and you should always conduct your own research and use proper risk management. Past performance does not guarantee future results.
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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.