GBPUSD bearish intraday outlook 20 Jan 2026GBP/USDOANDA:GBPUSDazmi12321Price has completed a liquidity sweep at the previous highs before shifting structure with a clear Change of Character (CHOCH) to the downside. Since then, the market has been printing lower highs (LH) and lower lows (LL), indicating that bearish order flow remains intact. Currently, GBPUSD is pulling back toward a supply zone confluencing with the EMA200, which is acting as dynamic resistance. As long as price respects this area, bearish continuation remains the higher‑probability scenario. 🔽 Bearish Idea Watching for rejection from the supply zone / EMA200 Potential continuation lower toward the intraday target around 1.3340–1.3345 Market structure remains bearish unless price breaks above the previous LH 📌 Key Confluences Liquidity sweep at the highs Clear CHOCH marking bearish structure shift Retest into supply zone EMA200 overhead acting as resistance If the supply zone holds, downside continuation aligns with the prevailing trend.