GBP/USD Bearish Rejection at Resistance Zone – Downside Targets Ahead 🚨
This chart analysis of GBP/USD reveals a clear bearish structure unfolding after the pair tested a strong resistance zone near the 1.36000 level. Here's the professional breakdown:
🔴 Key Resistance Zone: 1.36000 – 1.36200
Price has been rejected multiple times from this upper zone (marked in red).
Repeated upper wicks and lower closes signal selling pressure.
Recent candle formations suggest a potential reversal from this level.
🟢 Major Support Zones:
1.33090 (Mid-Level Support)
This level has acted as a reaction zone in the past.
Could provide temporary consolidation or bounce.
1.31500 – 1.32000
Strong historical support, price bounced here previously.
Bears might slow down in this area before continuation.
1.28000 – 1.29000
Deeper support zone; if broken, could indicate a major trend shift.
📉 Bearish Projection
Price is expected to descend toward 1.33090, and if momentum continues, potentially down to the 1.28 region.
The zigzag projection in the black box reflects a stair-step pattern typical of strong bearish legs.
🧠 Market Psychology & Price Action
Sellers are defending the resistance aggressively.
Lower highs and consistent rejection candles imply weakening bullish momentum.
This setup aligns with a distribution phase before a drop.
📌 Conclusion
🔻 As long as the price remains below the 1.36000 resistance, the bias remains bearish. Watch for confirmations at 1.33090 and 1.32000 – these are crucial zones where price decisions will unfold.
📆 Short to mid-term traders may look for sell setups on retracements with stop-losses above the resistance and targets near support zones.
This chart analysis of GBP/USD reveals a clear bearish structure unfolding after the pair tested a strong resistance zone near the 1.36000 level. Here's the professional breakdown:
🔴 Key Resistance Zone: 1.36000 – 1.36200
Price has been rejected multiple times from this upper zone (marked in red).
Repeated upper wicks and lower closes signal selling pressure.
Recent candle formations suggest a potential reversal from this level.
🟢 Major Support Zones:
1.33090 (Mid-Level Support)
This level has acted as a reaction zone in the past.
Could provide temporary consolidation or bounce.
1.31500 – 1.32000
Strong historical support, price bounced here previously.
Bears might slow down in this area before continuation.
1.28000 – 1.29000
Deeper support zone; if broken, could indicate a major trend shift.
📉 Bearish Projection
Price is expected to descend toward 1.33090, and if momentum continues, potentially down to the 1.28 region.
The zigzag projection in the black box reflects a stair-step pattern typical of strong bearish legs.
🧠 Market Psychology & Price Action
Sellers are defending the resistance aggressively.
Lower highs and consistent rejection candles imply weakening bullish momentum.
This setup aligns with a distribution phase before a drop.
📌 Conclusion
🔻 As long as the price remains below the 1.36000 resistance, the bias remains bearish. Watch for confirmations at 1.33090 and 1.32000 – these are crucial zones where price decisions will unfold.
📆 Short to mid-term traders may look for sell setups on retracements with stop-losses above the resistance and targets near support zones.
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JOIN MY TELEGRAM CHANNEL
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JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
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.