The GBP/USD pair is trading near the **1.3000** psychological level, showing signs of consolidation after a strong bullish move. The chart suggests a potential reversal as price approaches a key resistance zone, with an apparent liquidity grab at the recent high.
The highlighted area around **1.2946 - 1.2921** represents a significant **H4 demand zone**, where price could retrace before continuing its next move. A break below this zone would indicate a deeper correction, with potential downside targets towards **1.2870** (OA level).
**Key Considerations:**
- A sustained break above **1.3000** could invalidate the bearish setup, leading to further upside momentum.
- A rejection at this level, combined with bearish price action, could confirm a short opportunity with a target towards the demand zone and lower support areas.
**Conclusion:** Traders should monitor price action around the resistance level and confirmation of a bearish reversal before committing to short positions. If bullish momentum persists, a breakout could open the door for further gains.
The highlighted area around **1.2946 - 1.2921** represents a significant **H4 demand zone**, where price could retrace before continuing its next move. A break below this zone would indicate a deeper correction, with potential downside targets towards **1.2870** (OA level).
**Key Considerations:**
- A sustained break above **1.3000** could invalidate the bearish setup, leading to further upside momentum.
- A rejection at this level, combined with bearish price action, could confirm a short opportunity with a target towards the demand zone and lower support areas.
**Conclusion:** Traders should monitor price action around the resistance level and confirmation of a bearish reversal before committing to short positions. If bullish momentum persists, a breakout could open the door for further gains.
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