Sterling Has Recovered. The Bigger Trend Hasn’t Flipped Yet.GBP/USDOANDA:GBPUSDSophie_MarenGBPUSD has rebuilt a constructive H4 recovery from the late-June low, but buyers are now meeting the structure that matters most. Price has formed a sequence of higher lows and higher highs since July, giving buyers short-term control. However, the broader descending trendline from the May peak remains intact, and the latest advance has reached it without yet producing a clean structural break. That leaves GBPUSD in a compression phase between improving bullish momentum and broader bearish resistance. The primary scenario is a rejection from the current trend resistance followed by a controlled pullback toward the rising support structure. Such a move would not immediately restore a strong bearish trend; it would simply confirm that buyers still lack enough momentum to overturn the broader sequence of lower highs. The alternative scenario requires sustained acceptance above descending resistance. A breakout followed by a higher low above the former trendline would provide stronger evidence that the recovery is becoming a genuine trend reversal rather than another corrective rally. Invalidation: The immediate rejection thesis weakens if price breaks above the descending resistance and successfully holds that structure on a retest. For now, the market is best classified as a weak bullish recovery inside a broader bearish structure. Buyers have momentum, but they have not yet secured structural control.