GBP/USD Could Test Key Support Before ReboundingGBP/USDOANDA:GBPUSDMomonooHello everyone, looking at GBP/USD on the 1H timeframe, I can clearly see the market entering a phase of consolidation, where buyers are trying to maintain control but sellers still hold a slight advantage. The pair is trading around 1.3139, sitting close to the 1.3120–1.3100 support area—where strong buying pressure previously appeared. After the sharp bounce from 1.3080, the upward momentum stalled at 1.3180–1.3200, which aligns with a bearish FVG, signalling early exhaustion in the short-term structure. The series of small candles over the past few hours reflects accumulation, as if both sides are waiting for the right moment to strike. Meanwhile, the macro backdrop favours the USD, with the probability of a Fed rate cut in December dropping sharply, strengthening the dollar and pressuring GBP. At the same time, the UK economy provides little support—weak GDP and slow inflation progress contribute to cautious sentiment surrounding the pound. From what I’m observing, the most reasonable scenario is for GBP/USD to continue pulling back toward 1.3120–1.3100 to retest liquidity before seeing a potential rebound. This zone remains a technically significant support, where buyers previously entered with conviction. If bullish reaction reappears—shown by wick rejections or rising volume—I expect a recovery toward 1.3160–1.3180, and possibly 1.3220–1.3250 if aided by supportive news. Conversely, only a clean break below 1.3100 would open the door to deeper downside toward 1.3050. For now, this still looks like a corrective pullback—sometimes, a pullback is simply the market gathering strength before the next upward leg. What do you think about this scenario?