GBPUSD has confirmed a bearish breakdown from its rising intraday channel after failing to sustain above the highlighted resistance zone around 1.3462–1.3483. Price rejected the breakout retest and is now showing signs of renewed selling pressure, suggesting bears remain in control. A sustained move below current levels could expose the next downside support areas while only a decisive recovery above the resistance zone would invalidate the bearish outlook.(SELL Setup)
🔴 1st Support: 1.33431
🔴 2nd Support: 1.32899
🟢 Resistance Zone: 1.34624 – 1.34828
✅ Sterling remains cautious following the UK's political transition, with markets assessing the new government's fiscal direction.
⚠️ Disclaimer: This analysis is for educational purposes only.
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