GBP/USD Bearish Reversal Setup – Channel Break & Retest

GBP/USD is currently testing the upper boundary of an ascending channel. A bearish divergence is forming and the price action suggests a potential reversal from the current level. If price breaks below the channel and retests the 1.3080–1.3090 zone, a deeper correction could follow.

Trade Setup (Short):

Entry Zone (Sell): 1.3080 – 1.3100 (after break and retest)

Stop Loss: 1.3206 (above previous swing high)

Target 1: 1.3012

Target 2: 1.2905

Target 3: 1.2783

Bias: Bearish correction

Timeframe: 2H (short- to mid-term move)


Technical Factors:

Price at resistance with potential double-top structure

Rising channel shows weakening momentum

Bearish setup supported by strong RR (Risk:Reward) structure


Disclaimer:
This is for educational purposes only. Use your own risk management and confirm with your trading strategy.