GBP/USD Bearish Rejection from Resistance – Downside Target in F
GBP/USD is showing signs of weakness after rejecting a key resistance zone around **1.3418–1.3424**. Price rallied strongly into the highlighted supply area but failed to sustain the breakout, producing a bearish rejection and lower highs on the 30-minute timeframe.
The marked resistance zone has acted as a significant barrier, and sellers appear to be regaining control. If bearish momentum continues, the pair could decline toward the next support level near **1.3340**, which aligns with the projected target shown on the chart.
**Target:** 🎯 **1.3340**
**Bearish Scenario:**
* Resistance: **1.3418 – 1.3424**
* Current Bias: **Bearish**
* Target Zone: **1.3340**
* Invalidation: A sustained break and close above the resistance zone could weaken the bearish outlook.
The setup suggests a potential pullback from resistance, with sellers aiming for the lower support area around **1.3340**.
The marked resistance zone has acted as a significant barrier, and sellers appear to be regaining control. If bearish momentum continues, the pair could decline toward the next support level near **1.3340**, which aligns with the projected target shown on the chart.
**Target:** 🎯 **1.3340**
**Bearish Scenario:**
* Resistance: **1.3418 – 1.3424**
* Current Bias: **Bearish**
* Target Zone: **1.3340**
* Invalidation: A sustained break and close above the resistance zone could weaken the bearish outlook.
The setup suggests a potential pullback from resistance, with sellers aiming for the lower support area around **1.3340**.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.