GBP/USD (2H) Professional Market AnalysisGBP/USDOANDA:GBPUSDMarketStrategysignals📊 GBP/USD (2H) Professional Market Analysis 🎯 Bias: Bearish Continuation Until Proven Otherwise 📉 Market Structure Overview The chart shows a clear bearish market structure after a strong bullish rally. Price formed a significant swing high near the resistance zone and has since produced: ✅ Lower High (LH) ✅ Lower Low (LL) ✅ Break of Structure (BOS) ✅ Strong bearish trendline holding price below resistance Overall, sellers remain in control. 🔍 Key Technical Observations 🚧 1. Major Resistance Zone 1.3540 – 1.3550 Previous buying climax. Multiple rejections confirm strong institutional selling pressure. ➡️ Unless this level is broken, bulls remain weak. 🟨 2. Premium Supply Zone Around 1.3400 – 1.3415 This highlighted area acted as: Supply zone Distribution area Institutional premium pricing Price respected this zone before continuing lower. 📌 Any retracement into this area may attract fresh sellers. 📉 3. Descending Trendline The trendline connects the recent lower highs perfectly. Every rally has been rejected from this dynamic resistance. Current trend = Bearish ⚠️ 4. Break of Structure (BOS) The BOS around 1.3340 confirms that buyers lost control. After the BOS: Sellers dominated Momentum shifted downward Lower highs continued forming This strengthens the bearish outlook. 📍 Current Price Position Current Price: ≈ 1.3305 Price is trading: 🔻 Below trendline 🔻 Below premium zone 🔻 Below BOS This favors continuation to the downside unless buyers reclaim key resistance. 🎯 Possible Trading Scenario 🐻 Primary Bearish Setup 📌 Wait for price to retrace into: 1.3335 – 1.3365 Look for: ❌ Bearish engulfing candle ❌ Rejection wick ❌ Lower-high confirmation ❌ Strong selling volume 🎯 Potential Targets: TP1: 1.3270 TP2: 1.3235 TP3: 1.3200 TP4: 1.3150 (Major Support) 🟢 Bullish Invalidation The bearish view becomes weaker if price: ✅ Breaks above the descending trendline ✅ Closes above 1.3400 with strong momentum ✅ Forms a higher high and higher low Only then would buyers regain control. 🛡️ Important Support Zone 🟦 Major Demand 1.3145 – 1.3160 This area is likely to attract: Profit-taking by sellers Institutional buying interest Possible short-term reversal Watch price action carefully if this level is reached. 📊 Smart Money Concept (SMC) View ✅ Market Structure: Bearish ✅ BOS: Confirmed ✅ Trendline: Respecting Resistance ✅ Premium Zone: Rejected ✅ Liquidity: Likely resting below recent lows ✅ Probability: Higher chance of bearish continuation 📈 Trading Plan ✅ Sell Preference 📍 Entry: After bearish confirmation on a pullback 🛑 Stop Loss: Above the most recent lower high or above the trendline 🎯 Targets: 1.3270 1.3235 1.3200 1.3150 ⭐ Overall Market Bias 🔴 BEARISH (75–80% Probability) As long as price remains below the descending trendline and the 1.3400 premium supply zone, the path of least resistance is to the downside. Traders should prioritize selling rallies rather than buying dips until market structure shifts in favor of the bulls. Note: This analysis is based solely on the provided 2-hour chart and should be confirmed with lower-timeframe price action and sound risk management before entering any trade.