GBPUSD - Pre-breakout consolidation before distribution Great British Pound vs. US DollarFX:GBPUSDRLindaGBPUSD is testing a strong resistance level. The bearish reaction is weakening, while a decline in the DXY could create an opportunity for further upside The Dollar Index looks relatively weak after the bullish structure was broken. Further weakness in the dollar could support the medium-term outlook for the currency pair. The fundamental backdrop remains relatively favorable for the British pound. A pre-breakout base is forming below the key resistance zone established on the D1–W1 timeframe. A close above 1.3558 could trigger an impulsive move toward 1.3650 Resistance levels: 1.3558, 1.3650 Support levels: 1.3506, 1.3420 The local trend is bullish, and the market continues to test resistance persistently despite relatively low volatility. If the bulls manage to break above the level and hold above it, the market could have room for further upside Best regards, R. Linda