GBPUSD Short Setup: Rejection expected near 1.3477British Pound / U.S. DollarFOREXCOM:GBPUSDProfessorSingaporeGBPUSD Short Setup: Rejection expected near 1.3477 🎯 Trade setup: Direction: Short on confirmed rejection 🔻 Entry: 1.3473–1.3477 🛑 Stop Loss: 1.3492 🎯 Take Profit 1: 1.3445 🎯 Take Profit 2: 1.3423 📰 News: The Bank of England kept its key rate unchanged at 3.75%, but the vote was unexpectedly hawkish: three of nine policymakers supported a 25-basis-point increase. The split decision strengthened the pound and triggered a sharp GBPUSD rally. The BoE noted that UK inflation has fallen to 2.6%, although higher energy prices could push it higher later this year. Meanwhile, the Federal Reserve also held rates at 3.50%–3.75%, leaving the pair sensitive to further guidance from both central banks. 📊 Analysis: On the 1H chart, GBPUSD has broken above EMA 9, EMA 20, SMA 50, and SMA 200 following a strong post-BoE rally. Price is now testing the major 1.34765 resistance level. Momentum remains bullish, with MACD expanding above the zero line. However, RSI has reached approximately 77 and Stoch RSI is near 98, indicating heavily overbought short-term conditions. The short setup therefore requires a confirmed bearish rejection from 1.3473–1.3477. A reversal from this area could trigger a correction toward 1.3445 and 1.3423. A sustained hourly close above 1.3492 would invalidate the setup and support further upside. ⚠️ Not financial advice.