GBP/USD – Price Consolidation Persists on H1 ChartBritish Pound/US DollarFX:GBPUSDHenrybillionGBP/USD – Price Consolidation Persists on H1 Chart, Bearish Rejection Still in Play GBP/USD continues to respect a wide consolidation range on the H1 timeframe, with price repeatedly rejecting both the upper and lower boundaries. The market structure suggests a lack of strong momentum, and the latest price action is forming a corrective pullback under the descending mini-trendline. Key Technical Zones Major Resistance Zone: 1.3175 – 1.3195 This area has acted as a distribution zone where sellers consistently step in and reject higher prices. Mid-Range Level: 1.3150 Price frequently reacts to this level, making it an important intraday pivot. Support Zone: 1.3105 – 1.3115 This is the lower boundary of the range, historically triggering bullish rebounds. Technical Outlook The pair is currently trading near the mid-range, struggling to break above the minor bearish trendline. Market behavior indicates a potential liquidity sweep toward 1.3150 before sellers regain control. If price retests the upper band of the range around 1.3175 – 1.3195 and forms reversal signals, the probability of a downside rejection increases, aligning with the broader range-bound structure. Trading Strategy Sell Setup (Preferred):Wait for a retest of 1.3175 – 1.3195 Look for rejection patterns (bearish engulfing, pin bar, break of structure) Target: 1.3110 Extended Target: 1.3085 Alternative Scenario – Bullish Breakout: A clean H1 close above 1.3200 with strong volume would negate the bearish idea and shift the sentiment towards upside continuation. Range Trading Approach: Traders can continue to trade within the consolidation until a decisive breakout occurs. Patience is essential as price remains trapped inside the box. Summary GBP/USD is still locked in a sideways range, with bearish rejection favored at the upper boundary. Pay close attention to price action around 1.3175 – 1.3195 for high-probability intraday setups. If you find this analysis useful, save it and follow for more daily strategies.