GBPUSD NEXT MOVE A PULL BACK BEFORE THE BREAKOUT?

Counter-Analysis (Bullish Scenario Instead of Bearish)
Breakout Instead of Reversal

The analysis assumes that GBP/USD will reject at resistance (~1.3112), but if buying pressure is strong, it could break above resistance instead of reversing.
A breakout above 1.3112 could trigger further upside movement toward 1.3200+ levels.
Support Holds Instead of Breakdown

If price pulls back but finds strong support at 1.2800 - 1.2700, bulls could re-enter and push GBP/USD higher.
Instead of falling toward 1.2561, the price could consolidate and continue its bullish trend.
Trendline Acting as Support Instead of Resistance

The red trendline suggests resistance, but if price consolidates above it, the trendline could turn into support, confirming a bullish continuation.
Fundamental Catalysts Favoring GBP Strength

If the Bank of England (BoE) signals hawkish policies or the USD weakens, GBP/USD could rise instead of fall.
Economic data (such as strong UK GDP or inflation) could further support a bullish breakout.