GBP/USD Price Outlook – Trade SetupBritish Pound vs US DollarFPMARKETS:GBPUSDATFX_Global📊 Technical Structure GBPUSD GBP/USD has staged a strong impulsive breakout, reclaiming the 1.3407–1.3416 support zone and pushing toward the 1.3460–1.3471 resistance zone. The move reflects a clear momentum shift to bullish, with price breaking out of prior consolidation and forming higher highs. The previous support zone is now acting as a demand base, suggesting continuation potential on pullbacks. However, price is now approaching a key resistance area, where some short-term rejection may occur. Short-term bias: Bullish above 1.3407 🎯 Trade Setup (Buy-the-Dip Bias) Entry Zone: 1.3407 – 1.3416 Stop Loss: 1.3398 Take Profit 1: 1.3461 Take Profit 2: 1.3471 Risk–Reward Ratio: Approx. 1:3.02 📌 Invalidation: A sustained break below 1.3407 would invalidate the bullish structure and suggest a deeper pullback toward 1.3360. 🌐 Macro Background GBP/USD is supported by a strong risk-on environment: US–Iran ceasefire reduces safe-haven demand for USD USD weakens broadly (DXY near 98.75) Fed rate hike expectations priced out → bearish USD Risk assets rally supports GBP Overall: Macro favors upside continuation in GBP/USD 🔑 Key Technical Levels Resistance Zone: 1.3461 – 1.3471 Support Zone: 1.3407 – 1.3416 Invalidation Level: Below 1.3307 📌 Trade Summary GBP/USD has broken into a bullish structure with strong momentum. Preferred strategy: Buy dips above 1.3407, targeting a continuation toward 1.3460–1.3470. ⚠️ Disclaimer This analysis is for reference only and does not constitute trading advice. Financial markets involve significant risk; proper risk and position management are essential.