GBPUSD SET UPBritish Pound/US DollarFX:GBPUSDwashbismarckGBP/USD 4H Chart Analysis – Bearish Setup in Play Current Price: 1.34080 Trend Bias: Bearish (short-term) Indicators: EMA (9, close) – Price is consistently trading below the 9 EMA, reinforcing bearish momentum. Volume: No significant uptick in buying activity; selling pressure remains dominant. Technical Overview: The GBP/USD pair is currently exhibiting a descending triangle pattern on the 4-hour timeframe. This structure is typically a bearish continuation pattern, especially after the steep downtrend from early July. Resistance Trendline: A series of lower highs is compressing price action towards support, creating a descending ceiling. Key Support Zone: 1.3370–1.3380 region is acting as horizontal support. This level has been tested multiple times, increasing the chances of an eventual breakdown. Price Action Outlook: The chart suggests a potential breakdown scenario: A clean break below the 1.3370 support could trigger further downside, potentially targeting the 1.3200 psychological level next. If price manages to break above the descending trendline, this bearish setup would be invalidated and a short-term relief rally could occur. Key Levels to Watch: Support: 1.3370 (critical zone), 1.3200 (next downside target) Resistance: 1.3450 (trendline resistance), 1.3600 (recent swing high) Potential Trade Idea (Not Financial Advice): Short Bias: Watch for a 4H candle close below 1.3370 for possible short entries. Stop-Loss: Above the descending trendline (~1.3460). Take-Profit Targets: 1.3300 and 1.3200. Summary: GBP/USD is under pressure, trading in a descending triangle. Price action suggests a bearish continuation is likely if support fails. Traders should monitor for a breakout or breakdown confirmation before taking action.