GBP/USD Range-Bound Consolidation and Resistance Test

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GBP/USD Range-Bound Consolidation and Resistance TestBritish Pound / U.S. DollarFOREXCOM:GBPUSDJfx_kingThe pair is currently navigating a period of relative stability after a sharp rally earlier in the month. Key technical and fundamental details include: Current Action: The price is trading at 1.35594, attempting to push back into a blue Supply Zone between 1.3600 and 1.3650. Price Structure: After a significant vertical rally (marked by the large blue box on the left), the market has entered a broad consolidation phase. The price is currently reacting to the "upper-middle" portion of this range. Key Levels: To maintain the bullish momentum, the Pound needs a clean daily close above 1.3600. Failure to break the overhead resistance could lead to a retest of the recent support floor near 1.3400. The Outlook: The market is in a "wait-and-see" mode ahead of a critical week for central banks. Expect increased volatility surrounding the BoE press conference on April 30 as policymakers weigh the inflationary impact of the ongoing conflict against potential economic slowdown