GBPUSD Intraday Signal: Rejection Near 1.3480 Resistance
Analysis:
GBPUSD on the 1-hour timeframe recently produced a strong rebound from the 1.3290 demand zone, creating a Change of Character (CHoCH) and pushing price toward the 1.3460–1.3480 resistance area. This move represents a corrective recovery after the previous bearish impulse.
However, the bullish momentum stalled near 1.3480, where the chart shows a weak high forming inside a significant supply zone. This region aligns with previous liquidity and historical selling pressure, suggesting that sellers are defending this level.
Currently, price is trading around 1.3440, slightly below the resistance zone. The inability to sustain price above 1.3480 indicates that the recent upward move may simply be a retracement into liquidity rather than the beginning of a new bullish trend.
If the market continues to reject the 1.3460–1.3480 supply zone, GBPUSD could resume its downside movement toward nearby liquidity pools. The first downside target sits near 1.3380, while a deeper decline could revisit the 1.3290 demand zone, which is marked as the strong low on the chart.
As long as GBPUSD remains below 1.3480, the intraday bias favors bearish continuation.
Trade Setup:
Enter: Sell below 1.3430
Stop-Loss (SL): 1.3495
Target A: 1.3380
Target B: 1.3290