GBPUSD -DAILY TIMEFRAME ANALYSIS British Pound/US DollarFX:GBPUSDenwemadufranklyn1989GBPUSD Daily – Rising Trend Intact, But Corrective Phase Underway From 1.36 Supply 1. Higher-timeframe structure •The chart shows a clear daily bullish trend from the November low around 1.30, with a series of higher highs and higher lows respecting the main ascending trendline (blue). Price recently pushed into a major daily supply / resistance band around 1.3550–1.3650 (red box) and failed to close decisively above it, leaving several rejection wicks – classic sign of offer absorption and seller presence at that location. The inner, steeper momentum trendline (red) has now been broken to the downside, signalling that the impulsive leg of the up-move is over and the market is rotating into a corrective phase within the broader uptrend. 2. Current price action Price is trading around 1.34, having rejected from the red supply zone and closed back below the most recent minor demand / consolidation zone near 1.3450–1.3500 (upper blue box). That box is now acting as initial resistance. This breakdown shifts the very short-term structure from “one-way up” to a pullback / distribution phase, while the primary daily trend is still bullish as long as the main ascending trendline and last higher low remain intact. 3. Key demand zones (buy-side liquidity pockets) We have several stacked blue demand rectangles that map out a staircase of potential re-load areas: Zone 1: ~1.3450–1.3500 Former consolidation now broken. Likely to act as resistance on any retest from below. Zone 2: ~1.3350–1.3380 First meaningful daily demand below current price. If the pullback is shallow, buyers may attempt to defend this zone for continuation higher. Zone 3: ~1.3280–1.3320 Deeper demand cluster and prior breakout base. Converges with the rising trendline in the near future, creating a high-confluence re-accumulation area. Zone 4: ~1.3200–1.3230 Last major swing demand before the 1.30 low. A clean break and daily close below here would negate the current bullish structure and open the door for a larger correction back toward 1.31–1.30. 4. Forward-looking scenarios • Base case – Trend continuation (still favoured as long as trendline holds): Expect orderly pullbacks into the blue demand zones, with buyers stepping in around 1.3350–1.3320 or, if deeper, 1.3280–1.3230, in line with the established uptrend. If price finds support in one of these zones and prints bullish rejection candles / higher lows on the daily, the market can rotate back toward: The 1.3450–1.3500 resistance first, and Potential retests of the 1.3550–1.3650 supply band. Alternative case – Deeper distribution / trend deterioration: Failure of buyers to defend the 1.3280–1.3230 area and a daily close below the main ascending trendline and last higher low would signal that the market is transitioning from accumulation to distribution. In that case, the path of least resistance opens toward 1.31–1.30, where the prior cycle low sits and a larger demand pocket remains.