GBP/USD 4H: Breaks Below Key Volume SupportGreat British Pound vs US DollarCFI:GBPUSDCFIGBP/USD had been respecting a well-defined ascending channel on the 4-hour timeframe, with a series of higher highs and higher lows supporting the recovery from the June low. However, after failing to sustain momentum near the channel highs around 1.3450, the pair turned lower and has now broken below the lower boundary of the channel. 1.3388 Becomes Key Resistance The most important level on the chart is the 1.3388 Point of Control (POC), marked by the bold black horizontal line. This level represents the highest concentration of trading activity within the visible range and has acted as a major area of market acceptance. Price is now trading below the POC, indicating that sellers have pushed the market beneath a key value area. As long as GBP/USD remains below 1.3388, this level is likely to act as resistance rather than support. High-Volume Area The Volume Profile shows a substantial concentration of trading activity between 1.3360 and 1.3400, highlighting this region as an institutional fair-value area. The recent break below this zone suggests the market is moving away from a previously balanced area and could begin searching for liquidity at lower price levels. Low-Volume Zone Below Current Price One notable feature of the Volume Profile is the relatively thin volume area between 1.3250 and 1.3300. This low-volume pocket represents a region where relatively little trading activity has taken place. If bearish pressure continues, price could move through this area more quickly due to the lack of significant historical participation compared with the higher-volume zone above. RSI Supports the Shift in Momentum The RSI is currently around 43.8, below both the neutral 50 level and its moving average. Momentum has clearly weakened from the highs seen earlier in July, suggesting that bullish control has faded. Importantly, the RSI is not yet in oversold territory, indicating there is still room for further downside before momentum reaches extreme levels.