GBP/USD TECHNICAL ANALYSIS NEXT MOVE POSSIBLE CHECK CAPTAIN

This is a technical analysis chart of GBP/USD (British Pound to US Dollar) on the 1-hour timeframe, published on TradingView.

Key Observations:

1. Resistance Zone (Red Area at ~1.2666-1.2669):

The price has reached a supply zone where selling pressure is expected.

The chart suggests a potential rejection from this level.



2. Expected Price Movement (Black Arrows):

The price is expected to reverse from the resistance and decline.

The first target is around 1.26305, marked as support.

If that level breaks, the price could drop further to 1.25837.



3. Trend Structure:

There was an uptrend leading to the resistance.

The price is now testing a strong resistance zone.

A bearish reversal is anticipated if sellers take control.




Conclusion:

This chart suggests that GBP/USD might face resistance and start a downward move. Traders might look for sell opportunities near resistance and target the lower support levels. If buyers push above 1.2669, the bearish scenario could be invalidated.

Are you looking to trade this setup or just analyzing the market?