GBPUSD has hit a new low for the past three weeks, with sellers taking charge. The price has dipped below an important area between 1.3448 and 1.3475 on the hourly chart, giving sellers more influence. On the weekly chart, GBPUSD has returned to a range between 1.3411 and 1.3514. If the price stays below 1.3411, it would strengthen the bearish outlook from a technical perspective. The recent drop below the hourly swing zone indicates that sellers are gaining momentum. Previous support levels now act as obstacles for any potential recovery. Staying below 1.3448—especially after clearly breaking through that range—shows that the downward trend is supported by broader technical indicators. Looking at the weekly timeframe, the pair has moved back into a larger area between 1.3411 and 1.3514 that had previously seen some consolidation. Being near the lower edge of this range suggests that shorter-term movements are aligning with a longer-term trend. Continued trading below 1.3411 may lead to more selling, especially from traders watching how this level has reacted in the past. From a trading perspective, this structural shift calls for careful monitoring of intraday bounces, particularly those that fail to push past retested resistance levels. Retracements that respect former hourly support areas now confirmed as resistance provide clearer guidance for managing risk. It’s also important to look at volume profiles and open interest where applicable. When directional moves like this show higher volume, we can be more confident in the strength of the trend. Conversely, weak follow-through might indicate profit-taking rather than a broader move. Carney’s earlier approach to controlling inflation through tighter policies has already influenced many forward rate expectations. However, the recent price action hints that these expectations are being weighed against the latest economic data and geopolitical factors, rather than being adjusted upward. In the coming week, it will be useful to observe whether sellers continue to add to their positions during minor pullbacks. Moving below recent lows without hesitation could fuel further momentum. We need to see if the lower boundary holds or if prices dip deeper towards Q4 2023 levels. With this in mind, traders should look for confirmation of continued bearish trends through rejection candles or momentum indicators that fail to regain strength above the broken swing region. Quick failures near 1.3448, if tested from below, would be a significant signal. As always, reactions to key economic announcements scheduled for the coming days may validate or contradict the current price direction. Pay close attention not only to the headline numbers but also to how the market responds immediately after the news, especially in the context of the broken structure.

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