GBPUSD is continuing to decline, hitting a new session low. The pair is currently testing an important rising trend line support, which is essential for maintaining the uptrend seen over the past month. If this level breaks, sellers will gain more control over the market. If the price drops below the trend line, focus will shift to the swing area between 1.3441 and 1.3423, targeting the 38.2% retracement level at 1.3391 from the May low. These levels are key downside targets where sellers could strengthen their position. Resistance is now at 1.3514, a previous support level that needs to be reclaimed to reduce the downward pressure. The current technical outlook leans bearish, but sellers need to push further to confirm a full breakdown. The trend line has been broken, and the price is now testing the swing area between 1.34608 and 1.3473, confirming that sellers are gaining influence. As the price falls below the rising trend line, what was once support has become a sensitive area. The earlier upward trend is disrupted, and with that structure broken, selling momentum has not only returned but has intensified. Currently, the price is testing the range between 1.3460 and 1.3473, which previously acted as a support zone. Now, if this level fails to hold, additional declines may occur with less resistance. Targets below are clear: around 1.3441 and 1.3423, where buyers had previously tried to regroup. This is not just speculation; historical data indicates these levels are crucial for buyers. If they cannot defend these areas, the path could quickly open toward 1.3391. The area around 1.3391 is also a recognized Fibonacci retracement level from the May rise, making it a likely target for short-term bearish trades. These levels matter because they show where previous buyers were overwhelmed or managed to defend their positions. How the price reacts near these levels will provide insight into market direction. Looking at the bigger picture, the previous support at 1.3514 is now acting as resistance. We are monitoring whether there will be attempts to rise back to that level or if sellers will block any rebounds. If sellers maintain their grip, it’s less likely that buyers will regain control. For those with market exposure, we have confirmed a breach that ends the previous structure of higher lows and higher highs. Now, it’s not about guessing; it’s about whether sellers can affirm their dominance by breaking further support levels. Expect increased volatility, especially near 1.3423, where past decisions have led to significant price movement. We are closely observing price behavior in this zone. The reaction here indicates whether the market is adjusting to a new trend. What matters now is not only where the price is, but also its behavior at key levels. Price stalling or weak bounces might signal temporary seller exhaustion rather than strength. A sustained move below the previously mentioned retracement level would signify a rejection of last month’s gains. If this drop in price is accompanied by high volume, it confirms that bearish sentiment remains strong, particularly as macroeconomic conditions in other markets are unstable. We must continue to assess the price action rather than rely on expectations. Watch for failed bounce attempts, quick sell-offs after small rallies, or failure to reclaim former support. These indicators can show if control has definitively shifted. The goal now is to remain precise, focus on important levels, and avoid clinging to outdated trends.

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