GBP/USD remains under strong bearish pressure after rejecting a key supply/resistance zone around 1.3490–1.3500. The recent rally appears to have been a liquidity sweep, with sellers quickly regaining control and forcing price back below resistance. This rejection suggests that bearish momentum is still dominating the higher-timeframe structure.

From a technical perspective, the market has respected a major resistance area while failing to establish a sustained breakout above previous highs. As long as price remains below the 1.3490–1.3500 resistance zone, sellers may continue targeting lower support levels.

Target 1: 1.3350–1.3360
Target 2: 1.3300–1.3310

A confirmed break below the recent swing low would strengthen the bearish outlook and could accelerate downside momentum. However, if buyers reclaim and hold above 1.3500, the current bearish setup would weaken and a move toward higher levels could become possible a break below the recent swing low would confirm fresh bearish momentum and could trigger another wave of selling toward the next liquidity zones.

This analysis is shared for educational purposes only and should not be considered financial advice.