GBP/USD, Technical Analysis – H1

The pair is undergoing a technical pullback toward the demand zone at 1.3200, where a bullish reversal signal was previously formed. If this pattern remains valid, we can expect a sharp rebound higher after a test of the 1.3200 level.

Key Levels:

□ 1.3200 — key demand zone and bullish reversal area

□ 1.3300 — nearest upside target

□ 1.3100 — next support on breakdown

Primary Scenario:

Touch of the 1.3200 level followed by a strong rebound toward 1.3300.

Alternative Scenario:

Breakdown below the 1.3200 support with continuation lower toward 1.3100.

Analyst Commentary:

It is advisable to wait for a clear reaction at the 1.3200 level before entering any positions. Confirmation of buyer interest in this zone will be important for the bullish scenario.