GBPUSD ShortBroader Market Structure (GBPUSD – 15M)
On the 15-minute timeframe, GBPUSD remains in a bullish market structure. Price has been consistently printing higher highs and higher lows following a clear impulsive move up from the 1.3410–1.3420 area. The most recent Break of Structure (BOS) occurred when price pushed above the prior lower high around 1.3465, confirming bullish continuation rather than a reversal. There is no confirmed Change of Character (CHoCH) yet, as price has not broken below the most recent higher low near 1.3440. Structurally, this suggests that the larger move is still corrective to bullish, with downside moves currently classified as pullbacks rather than trend reversals.
Supply and Demand Zones
The upper supply zone around 1.3475–1.3485 shows signs of weakness. Price tapped into this area but failed to produce an aggressive rejection; instead, candles stalled and ranged, indicating sellers are present but not dominant. In contrast, the demand zone marked between 1.3435–1.3445 is relatively strong. Buyers previously stepped in with strength from this region, producing an impulsive bullish leg that broke structure to the upside. Below that, the deeper demand zone around 1.3400–1.3420 is even stronger, as price left this area sharply with minimal consolidation, signaling strong institutional buying interest.
Price Action in the Marked Region
Within the highlighted region, price is currently pulling back from the weak supply and moving toward the higher demand zone near 1.3440. The pullback appears controlled rather than aggressive, suggesting this is a corrective move. If price holds above the 1.3440 demand and shows bullish reaction, a continuation back toward 1.3475–1.3485 is the most likely scenario. However, if price breaks cleanly below 1.3440, the probability increases for a deeper move into the lower demand around 1.3415–1.3420.
Trade Bias and Invalidation
The current trade bias remains bullish, with an expected short-term pullback into demand followed by a potential continuation higher. The key invalidation level for this bullish outlook is a decisive break and close below 1.3430, which would signal a short-term structural shift and open the door for a deeper correction.
Momentum and Price Behavior
Momentum is slightly cooling but still favors buyers. The absence of strong bearish displacement candles and the presence of overlapping, corrective candles suggest sellers lack conviction. Bullish continuation would be confirmed by a strong bullish engulfing candle or impulsive rejection from the demand zone.
