Pound is testing the firewall…will the decline start here? !

The pair is clearly in a downtrend from the previous period, with each rise stopping at strong supply areas before falling again… This is very evident in the movement of the chart.

The price is now directly below a very important display area:
1.3120 – 1.3145

This was the area where the price reaction was strong last time, and it’s clear that buyers weaken whenever this area is approached.

Overall trend: Bearish
Current Trend: Corrective Uptrend in Downtrend

🔴Strong Scenario (Sell):

Selling from the red zone is the most likely scenario for success:

Sell ​​zone: 1.3120 – 1.3145

Stop loss: above 1.3160

Target 1: 1.3090

Target 2: 1.3050

Target 3: 1.3010

RR is very good

This situation is in line with the general trend.

🟢 Purchase scenario (if only hack):

Unless we see a real breakout and a strong close above 1.3160, there is no point in buying now

Buy entry point: above 1.3160

Stop Loss: Below 1.3120

Target: 1.3210 – 1.3250

But this is very weak due to strong downward pressure.

💡Conclusion:

✔ GBP/USD in strong selling zone
✔ The overall trend is still downward
✔ Best opportunity = Sell from 1.3120 – 1.3145
✔ Only buy if there is a strong break above 1.3160

The market is witnessing a major movement right now…and the current area is key to it.

sign:

Engineering/Taher Elmonier – TPS College