GBPUSD Watch – Bearish Momentum Building Below Supply ZoneGBPUSD pair has broken sharply below the long-standing accumulation range between 1.2857 – 1.3012, signaling a shift in market sentiment. The recent bearish engulfing structure has pushed price into a corrective pullback phase, with sellers likely to re-enter on rallies.
Key Technical Levels:
Current Price: 1.2795
Resistance (Supply Zone): 1.2857 – 1.2863
First Support Target: 1.2688 – 1.2690
Mid-Level Target: 1.2568 – 1.2570
Final Bearish Target: 1.2383 – 1.2390 (demand zone & key support)
Trade Scenario:
📉 Bearish Bias:
Price is expected to retrace into the supply zone (1.2857–1.2863) and then reject.
If resistance holds and structure remains intact, expect continuation toward:
TP1: 1.2689
TP2: 1.2568
TP3: 1.2385
🔁 Invalidation Zone:
A sustained break and close above 1.2863 would invalidate the bearish setup and could trigger a move toward 1.3012.
Technical Confluence:
✅ Previous consolidation turned into a strong resistance zone
✅ Bearish breakout from range
✅ Clean lower highs and lower lows structure
✅ Volume drop on the pullback (likely a corrective move)
