After an impressive bullish run, GBP/USD has just touched a strong Supply Zone between 1.3440 – 1.3475, marked by high-volume rejection in the past. Price has now sharply reversed from this area — hinting that smart money might be distributing positions.
📌 Confluences:
🔵 Supply Zone (LuxAlgo) from previous highs.
🔻 Bearish Engulfing Candle at resistance.
📉 RSI Divergence (not shown in image, but likely on a peak).
🔴 Upcoming USD fundamentals (NFP/Interest Rate Decision soon).
🔽 Break of minor support = confirmation of short move.
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🎯 Bearish Targets:
1. 🔵 1.28700 – Previous support and structure level.
2. 🔴 1.24701 – High liquidity zone.
3. 🟠 1.23326 – Institutional Demand Zone (final take-profit for swing).
📅 Key Date Watch: Red news events marked on chart — high impact USD events could accelerate momentum.
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📈 Bias: Short-term Bearish
📆 Next 1–2 weeks: Expecting drop toward 1.28700 and potentially deeper if macro data supports.
---
🔥 What Do You Think?
Are you bearish like me, or expecting another push up before the drop? Share your thoughts 👇
💬 Drop your chart below if you're also watching this setup!
📌 Follow for more setups, live trades, and weekly breakdowns.
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#GBPUSD #ForexTrading #SmartMoney #PriceAction #SupplyAndDemand #ForexAnalysis #SwingTrade #USD #TradingView
📌 Confluences:
🔵 Supply Zone (LuxAlgo) from previous highs.
🔻 Bearish Engulfing Candle at resistance.
📉 RSI Divergence (not shown in image, but likely on a peak).
🔴 Upcoming USD fundamentals (NFP/Interest Rate Decision soon).
🔽 Break of minor support = confirmation of short move.
---
🎯 Bearish Targets:
1. 🔵 1.28700 – Previous support and structure level.
2. 🔴 1.24701 – High liquidity zone.
3. 🟠 1.23326 – Institutional Demand Zone (final take-profit for swing).
📅 Key Date Watch: Red news events marked on chart — high impact USD events could accelerate momentum.
---
📈 Bias: Short-term Bearish
📆 Next 1–2 weeks: Expecting drop toward 1.28700 and potentially deeper if macro data supports.
---
🔥 What Do You Think?
Are you bearish like me, or expecting another push up before the drop? Share your thoughts 👇
💬 Drop your chart below if you're also watching this setup!
📌 Follow for more setups, live trades, and weekly breakdowns.
---
#GBPUSD #ForexTrading #SmartMoney #PriceAction #SupplyAndDemand #ForexAnalysis #SwingTrade #USD #TradingView
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