The GBP/USD pair just got rejected from a strong supply zone at 1.3575, which has acted as resistance several times. After tapping this zone, we've seen a clear shift in momentum, with price breaking below the immediate structure.
Key Levels:
Resistance Zone: 1.3575 (Supply)
Mid-Level Support: 1.3465 – price could retest this as the next key decision area.
Major Demand Zone: 1.3346 – previously respected with strong bullish reaction.
Trade Idea:
If price fails to reclaim the 1.3575 zone, we could see a deeper retracement:
Short Setup Trigger: Break and retest below 1.3540
Target 1: 1.3465 (structure support)
Target 2: 1.3346 (major demand)
Fundamentals to Watch:
US Dollar events (highlighted on the chart) could add volatility—stay sharp during news releases.
Be mindful of liquidity grabs and fakeouts around these zones.
Bias:
Short-term bearish as long as price stays below 1.3575. Look for entries on lower timeframe confirmations.
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What are your thoughts?
Are you bullish or bearish on GBP/USD this week? Drop your analysis and let’s discuss!
#GBPUSD #Forex #PriceAction #LuxAlgo #SupplyAndDemand #SmartMoney #ForexTrading #TechnicalAnalysis #TradingView
Key Levels:
Resistance Zone: 1.3575 (Supply)
Mid-Level Support: 1.3465 – price could retest this as the next key decision area.
Major Demand Zone: 1.3346 – previously respected with strong bullish reaction.
Trade Idea:
If price fails to reclaim the 1.3575 zone, we could see a deeper retracement:
Short Setup Trigger: Break and retest below 1.3540
Target 1: 1.3465 (structure support)
Target 2: 1.3346 (major demand)
Fundamentals to Watch:
US Dollar events (highlighted on the chart) could add volatility—stay sharp during news releases.
Be mindful of liquidity grabs and fakeouts around these zones.
Bias:
Short-term bearish as long as price stays below 1.3575. Look for entries on lower timeframe confirmations.
---
What are your thoughts?
Are you bullish or bearish on GBP/USD this week? Drop your analysis and let’s discuss!
#GBPUSD #Forex #PriceAction #LuxAlgo #SupplyAndDemand #SmartMoney #ForexTrading #TechnicalAnalysis #TradingView
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