GBPUSD

Hello Traders! 👋

What are your thoughts on GBPUSD?

The GBPUSD chart is currently at a critical decision zone, with price reacting to a strong cluster of resistance factors.
Price continues to move within a descending channel, indicating that the overall trend remains bearish unless a valid breakout occurs.
The highlighted resistance area is acting as a strong supply zone, where sellers have repeatedly stepped in and pushed price lower.
The 0.618 Fibonacci level is perfectly aligned within this zone, adding further strength to the resistance.
As long as price remains below this resistance area, the dominant bias stays bearish, and it is expected that after some consolidation in this zone, price will move toward lower targets.
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