Sell setupBritish Pound/US DollarSAXO:GBPUSDalaisattakarnOf course. Here is the analysis for the GBP/USD currency pair. --- Analysis of GBP/USD Currency Pair Current Market Snapshot: · Instrument: GBP/USD (British Pound / U.S. Dollar) · Current Price: 1.34849 · Daily Change: +0.00051 (+0.04%) · Market Sentiment (from overlay): SELL --- Technical Analysis: 1. Price Action & Key Levels: · The pair is trading at 1.34849, showing minimal net change and essentially flat for the day. · The price is trading significantly below a major and well-established resistance zone at 1.37000. · A critical and strong support level is evident at 1.34015. This level has been tested multiple times (as shown by the triple notation) and has held, preventing further declines. · The current price action is occurring in the lower portion of the visible chart range, well below the 1.37000 resistance, indicating a broader bearish trend. 2. Market Sentiment and Bias: · Despite the neutral daily move, the platform's overlay displays a clear "SELL" sentiment. · This bearish bias is justified by the chart's structure, which shows a consistent downtrend from the 1.39000s into the current consolidation range. 3. Broader Context: · The chart depicts a pronounced long-term downtrend from highs above 1.39000. · The price has found a temporary base and is consolidating between the strong resistance at 1.37000 and the key support at 1.34015. The current price is situated in the middle of this consolidation zone. Summary and Outlook: The GBP/USD pair is in a consolidation phase within a broader bearish trend. While the daily move is flat, the overarching momentum is negative. The key for future direction lies in which level of this consolidation range breaks. · Bearish Scenario: A break and sustained move below the crucial 1.34015 support level would be a very bearish signal, likely triggering a resumption of the downtrend with targets towards 1.33000 and potentially 1.32000. · Bullish Reversal Scenario: For the bearish trend to be seriously challenged, buyers would need to push the price above the 1.37000 resistance level. Until that happens, the path of least resistance remains sideways to down. Traders should watch for a decisive breakout from the current 1.34015 - 1.37000 range. The "SELL" bias suggests the market is leaning towards a breakdown, but the strong support at 1.34015 must be broken for confirmation.