GBPUSD - The hunt for liquidity amid a downtrend British Pound/US DollarFX:GBPUSDRLindaGBPUSD has been in a downtrend for three months. The strong dollar is putting pressure on the currency pair. The overall backdrop remains unchanged... The dollar is forming a local correction amid a bullish trend, while the British pound is testing liquidity zones. Earlier on the daily chart, the market broke through the upward support structure, indicating weakness in the pound. The currency pair has been in a downtrend since late January, and from a technical perspective, the market is heading toward the liquidity zone of 1.3139–1.3010. Locally, the focus is on the first trigger—resistance at 1.3260—where manipulation and the formation of a reversal pattern relative to this zone could trigger a drop toward the liquidity zone at 1.3174. Resistance levels: 1.3260, 1.3294, 1.3339 Support levels: 1.3236, 1.3174 However, if the dollar continues its correction, the pound will head toward a further zone of interest—the second trigger at 1.3294 (an imbalance zone)—with the aim of retesting before a decline. Against the backdrop of a downtrend, I give priority to short positions... Best regards, R. Linda!