GBPUSD Rising Channel Breakdown – Sellers Eye Deeper SupportGBPUSD previously respected a clean rising channel, showing steady bullish momentum. However, as price approached the major resistance zone, buying pressure weakened and the market failed to hold higher levels. The highlighted rejection near the top signals seller activation and a potential shift in market control.
After losing the channel structure, price started to print lower highs, indicating that bulls are struggling to defend the trend. The current pullback looks corrective, and unless GBPUSD reclaims the broken channel with strong momentum, the probability favors further downside.
A decisive move below the last low would confirm a bearish continuation, opening the path toward the key support zone marked on the chart. Until then, rallies into resistance can be treated as sell-on-retracement opportunities with proper risk management.
