GBP/USD Price Outlook – Trade SetupBritish Pound / U.S. DollarFOREXCOM:GBPUSDATFX_Global🌐Macro Background The GBP/USD pair is under pressure during Thursday's Asian session, struggling to build on the previous day's recovery to weekly highs. Several key factors drive the fundamental backdrop: The US Dollar finds underlying support following hawkish rhetoric from the Fed, keeping pressure on major currency pairs. Escalating Middle East tensions—specifically the ongoing conflict affecting energy shipping routes—continue to feed global inflation pressures and safe-haven USD demand. The Bank of England (BoE) is expected to hold its policy rate steady at 3.75% later today as policymakers weigh sticky inflationary pressure against economic headwinds. Traders are awaiting BoE Governor Andrew Bailey’s press conference for guidance on future rate trajectories. 📊Technical Structure The price action shows consolidation within a descending channel structure following the sharp retreat from mid-July highs near 1.3570. Resistance Zone (1.3400 – 1.3460) Support Zone (1.3251 – 1.3300) 🎯Trade Setup Bearish Continuation (Sell on Rally / Trend-Following) Strategy: Sell on a corrective rally into upper channel resistance or after a clean breakdown of support. Entry Zone: 1.3380 – 1.3410 (near upper channel line and resistance boundary). Target 1: 1.3300 (Top of Support Zone) Target 2: 1.3251 (Key Support Base) Target 3: 1.3200 (Psychological support extension) Stop Loss: Above 1.3465 (Above Resistance Zone) ❌Invalidation Bearish Setup Invalidation: A sustained 4-hour candle close above 1.3460 breaks the descending channel resistance and shifts bias back toward the 1.3500+ region. 📝Trade Summary GBP/USD remains trapped inside a descending channel between key support (1.3251–1.3300) and resistance (1.3400–1.3460), favouring short positions on rallies toward 1.3400. ⚠️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.