GBPUSD Technical Analysis (1H Timeframe)

Looking at the 1-hour chart, GBPUSD recently made a strong push towards the major resistance zone near 1.35050 and faced a clear rejection.

Key Highlights:
• Resistance Zone: Price tapped into the strong supply zone near 1.35050 and failed to break above.
• Bearish Sentiment: The sharp rejection candle indicates strong selling pressure coming into the market.
• Technical Setup: Short position initiated around 1.34800 level.

Trade Setup:
• Entry Zone: ~1.34800
• Stop Loss (SL): 1.35050 (Above the recent liquidity sweep/high)
• Take Profit (TP): 1.34366 (Major support zone)

Expectation:
As long as the price stays below the resistance line at 1.35050, we expect a lower-high lower-low structure down towards the primary support level around 1.34360.

Disclaimer: This analysis is for educational purposes only and is not financial advice. Always manage your risk properly.