GBP/USD has tapped into a key weekly supply zone (1.3510 – 1.3550) where we previously saw heavy institutional selling. Price has shown signs of stalling after a strong bullish run.
🔹 We're sitting at a high-volume node with diminishing bullish momentum.
🔹 Upcoming USD news events (3 red icons below) could bring the volatility needed for a sharp reaction.
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🔥 Key Price Levels
🔵 Supply Zone: 1.3510 – 1.3550 → Currently reacting
🔵 First Support: 1.2845 → Previous demand, now a possible bounce zone
🟠 Major Demand Zone: 1.2332 – 1.2470 → Where the March rally started
Red arrows show possible path of a deeper correction if the bulls lose control.
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🧠 Smart Money POV
This could be a classic distribution zone before a deeper retracement. Price swept liquidity above previous highs — a typical trap before a reversal. If this level holds, expect a potential bearish drop toward 1.2845 and beyond.
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💡 Trade Setup (For Study/Backtesting)
> Scenario 1: Bearish Reversal Play
📍 Entry: 1.3530 – 1.3550
🎯 TP1: 1.2845
🎯 TP2: 1.2470
❌ SL: 1.3585+
> Scenario 2: Breakout Play
🔁 Wait for strong 4H close above 1.3560
🎯 Target: 1.3700+
❌ SL: Below 1.3510
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🧨 Event Risk Alert
Heavy USD news ahead. Be prepared for fakeouts or aggressive moves during high-impact announcements.
---
💬 Do you think GBPUSD has topped out or is this just a pause before the next leg up?
🧠 Comment below & let’s discuss setups.
👍 Like & Follow for more Smart Money price action charts!
🔹 We're sitting at a high-volume node with diminishing bullish momentum.
🔹 Upcoming USD news events (3 red icons below) could bring the volatility needed for a sharp reaction.
---
🔥 Key Price Levels
🔵 Supply Zone: 1.3510 – 1.3550 → Currently reacting
🔵 First Support: 1.2845 → Previous demand, now a possible bounce zone
🟠 Major Demand Zone: 1.2332 – 1.2470 → Where the March rally started
Red arrows show possible path of a deeper correction if the bulls lose control.
---
🧠 Smart Money POV
This could be a classic distribution zone before a deeper retracement. Price swept liquidity above previous highs — a typical trap before a reversal. If this level holds, expect a potential bearish drop toward 1.2845 and beyond.
---
💡 Trade Setup (For Study/Backtesting)
> Scenario 1: Bearish Reversal Play
📍 Entry: 1.3530 – 1.3550
🎯 TP1: 1.2845
🎯 TP2: 1.2470
❌ SL: 1.3585+
> Scenario 2: Breakout Play
🔁 Wait for strong 4H close above 1.3560
🎯 Target: 1.3700+
❌ SL: Below 1.3510
---
🧨 Event Risk Alert
Heavy USD news ahead. Be prepared for fakeouts or aggressive moves during high-impact announcements.
---
💬 Do you think GBPUSD has topped out or is this just a pause before the next leg up?
🧠 Comment below & let’s discuss setups.
👍 Like & Follow for more Smart Money price action charts!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.