GBPUSD BIG MOVE COMING?Structure Overview:
The market has been ranging within a clear horizontal consolidation zone, with two key zones:
Support Zone: 1.32600 - 1.33000 (gray box at the bottom)
Resistance Zone : 1.33500 - 1.33800 (gray box at the top)
Price recently broke above the upper consolidation range, suggesting bullish momentum.
🔍 Analysis:
The pair has broken out of the consolidation range after multiple rejections from the support zone.
We now look for a potential retest of the previous resistance (1.33500 area) as new support.
Two potential bullish continuation scenarios are highlighted:
📌 Trade Plan:
Scenario 1 – Immediate Continuation:
If price holds above 1.33500, look for bullish continuation toward:
TP1: 1.34026
TP2: 1.34208
Scenario 2 – Retest Setup:
Wait for a pullback to the 1.33000–1.33500 zone.
Confirmation of bullish rejection (e.g., bullish engulfing or pin bar) could provide a high-probability long setup.
Entry: After bullish confirmation in retest zone
SL: Below 1.33000 (invalidates breakout)
TP: 1.34026 / 1.34208
📉 Invalidations:
A clean break and close below 1.33000 may suggest a failed breakout, putting 1.32600 back into play.
🧠 Bias: Bullish (as long as 1.33000 holds)
🕒 Timeframe: 4H
