15 July GBPUSD outlook: Recovery Rally Faces Major ResistanceBritish Pound / U.S. DollarFOREXCOM:GBPUSDChartingGenieGBPUSD has rebounded from its recent swing low and is now testing a key resistance zone between 1.3420 and 1.3450, where selling pressure has emerged previously. This area also aligns with prior market structure, making it a potential inflection point for price action. Although buyers have driven the recent recovery, prices have so far struggled to establish acceptance above resistance, with recent candles showing signs of hesitation. As long as GBPUSD remains below the 1.3420–1.3450 zone, the recent rebound may be viewed as a corrective move within the broader bearish structure. If sellers regain control, the pair may retrace towards the initial support at 1.3342. A sustained break below this level could expose the next downside area around 1.32734, which marks the previous swing high before the sharp decline. Alternatively, a decisive close above the 1.3420–1.3450 resistance zone could invalidate the near-term bearish scenario and open the door for a move towards the next resistance at 1.35094. By Li Xing Gan, Financial Markets Strategist Consultant to Exness