The British Pound is currently trading around 1.3591, showing bullish momentum — but it's now pressing against a major daily supply zone near 1.3620 - 1.3577. This area has historically rejected price action, making it a critical point of interest.
🔵 Key Resistance Zone (Supply): 1.3577 - 1.3620
🔵 Next Support Levels to Watch If Rejected:
• 1.2967 (Mid-level structure & former resistance)
• 1.2744 (Weekly support)
• 1.2273 (High-demand zone + March accumulation zone)
🔻 Bearish Outlook (if rejection occurs):
Expect sellers to step in strongly around this supply zone. A confirmed rejection here could trigger a multi-leg bearish correction toward the 1.2967 level, and possibly even the 1.2470 or 1.2270 demand zones below.
📌 Bullish Case:
A breakout above 1.3620 with strong volume could signal a continuation of the bullish trend, targeting new highs into Q3.
🧠 Strategy Tips:
• Look for bearish candlestick confirmation on the daily around 1.3577 - 1.3620
• Monitor fundamentals — especially upcoming UK & US economic data
• Use a tight SL above the zone if shorting, or wait for a confirmed retest breakout to go long
📅 Timeframe: Daily (1D)
🔍 Indicator: Supply & Demand Visible Range (LuxAlgo)
📊 What are your thoughts — rejection or breakout? Let’s discuss in the comments!👇
#GBPUSD #ForexAnalysis #PriceAction #SupplyAndDemand #SmartMoney #DailyChart #ForexSetup #BreakoutOrBounce #FXCM #LuxAlgo #TradingView #FrankFx
🔵 Key Resistance Zone (Supply): 1.3577 - 1.3620
🔵 Next Support Levels to Watch If Rejected:
• 1.2967 (Mid-level structure & former resistance)
• 1.2744 (Weekly support)
• 1.2273 (High-demand zone + March accumulation zone)
🔻 Bearish Outlook (if rejection occurs):
Expect sellers to step in strongly around this supply zone. A confirmed rejection here could trigger a multi-leg bearish correction toward the 1.2967 level, and possibly even the 1.2470 or 1.2270 demand zones below.
📌 Bullish Case:
A breakout above 1.3620 with strong volume could signal a continuation of the bullish trend, targeting new highs into Q3.
🧠 Strategy Tips:
• Look for bearish candlestick confirmation on the daily around 1.3577 - 1.3620
• Monitor fundamentals — especially upcoming UK & US economic data
• Use a tight SL above the zone if shorting, or wait for a confirmed retest breakout to go long
📅 Timeframe: Daily (1D)
🔍 Indicator: Supply & Demand Visible Range (LuxAlgo)
📊 What are your thoughts — rejection or breakout? Let’s discuss in the comments!👇
#GBPUSD #ForexAnalysis #PriceAction #SupplyAndDemand #SmartMoney #DailyChart #ForexSetup #BreakoutOrBounce #FXCM #LuxAlgo #TradingView #FrankFx
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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.