EURGBP: Bearish Rejection at Sequence Target & WCL
EURGBP
has reached a critical structural juncture on the 1-hour timeframe after completing its upside expansion into both the C target of the bullish sequence and the overarching bearish Whole Correction Level (WCL). This confluence zone served as a major area of structural resistance, where buying momentum exhausted after fully delivering on the bullish sequence objectives.
Following the reaction from the C target and bearish WCL zone, price pushed lower and established a distinct breaker block. This structural shift confirms that sellers have taken control of the immediate flow, transitioning local market structure from bullish expansion into active distribution and turning previous support into resistance.
With the upside sequence completed and structural rejection confirmed at key resistance, market structure now favors a continuation to the downside. Price is expected to trace back toward the Whole Correction Level (WCL) of the original bullish move as its primary structural target.