GBPUSD is retesting a previously contested supply zone around 1.3258 – 1.3263 after a strong bullish expansion. Price is currently showing signs of consolidation near the highlighted entry area, making this region important for short-term directional confirmation.
The bearish scenario remains valid while price continues to respect the marked supply zone. A rejection from this area could open the path toward lower support levels highlighted on the chart.
🎯 Targets
🎯 Target 1: 1.3233
🎯 Target 2: 1.3220
🎯 Target 3: 1.3200
⚠️ Invalidation
A sustained break and acceptance above the major resistance zone near 1.3300 – 1.3310 would weaken the bearish outlook.
Market Structure
✅ Retest of supply / resistance zone
✅ Potential lower-high formation
✅ Clear risk level above resistance
✅ Favorable downside structure
This analysis reflects a personal technical view based on price action and market structure.
Note:Educational purposes only, not financial advice.