GBP/USD Consolidates Below ResistanceGBP/USDOANDA:GBPUSDDomicChainaHello everyone, On the H4 timeframe, GBP/USD is showing a clear phase of consolidation as price continues to fluctuate around the 1.34 area—right at the intersection of key moving averages. After an extended downtrend, the market did attempt a recovery, but notably, the bullish momentum has not been strong enough to fully break the previous bearish structure. At the moment, price is testing the long-term moving average (blue line), which is acting as dynamic resistance. Each time the pair approaches this zone, it faces rejection, indicating that sellers are still maintaining control of the market. Meanwhile, the short-term moving average has started to flatten, reflecting a consolidation phase rather than the development of a clear bullish trend.