GBPUSD: Watching Pullbacks for ContinuationGBP/USDOANDA:GBPUSDEdgeTradingJourneyI’m currently observing a potential structural shift on GBPUSD after a prolonged bearish phase. Price has broken out of a well-defined descending channel and reacted strongly from a higher timeframe demand zone around 1.3150–1.3220. This reaction suggests that selling pressure is being absorbed, and we may be entering an early accumulation phase. From a sentiment perspective, retail traders remain predominantly short (around 59%), which aligns with a contrarian bullish view. At the same time, the latest COT data shows commercial positioning increasing on the long side, indicating potential smart money accumulation. Seasonality also supports this scenario, as April historically tends to show a bullish bias on GBPUSD across multiple time horizons. From a technical standpoint, the market has already swept liquidity below recent lows and is now repricing higher. I’m particularly focused on the imbalance (FVG) areas above current price, which could act as magnets in the short term. At this stage, I am not interested in chasing price. Instead, I’m looking for controlled pullbacks into the 1.3300–1.3360 area, where I will monitor lower timeframe confirmations (change of character or bullish structure) to position long. If momentum continues, my upside targets are: 1.3530 (first reaction level) 1.3650 (mid-term objective) 1.3750 (higher timeframe supply) The bullish scenario remains valid as long as price holds above the 1.3150 demand zone. A breakdown below this level would invalidate the current structure and shift my bias back to neutral/bearish.