GBP/USD Technical Analysis – H1

A bearish Over&Under reversal pattern has formed. This indicates a likely completion of the bullish trend and supports opening short positions from the previous high at 1.3530. The potential target for these sells is the support area of 1.3430–1.3440.

Key Levels:

□ 1.3530 — resistance / short-entry zone

□ 1.3430–1.3440 — support / primary target zone

Primary Scenario:

Pullback higher toward 1.3530, followed by a sharp reversal lower.

Alternative Scenario:

Sideways consolidation (flat) at current levels.

Analyst Commentary:

Placing pending limit orders in the 1.3530 zone would provide a risk-to-reward ratio of approximately 1:4.