Bullish Channel Support in GBPUSD Comes Into FocusBritish Pound / U.S. DollarFOREXCOM:GBPUSDCandleKing09GBPUSD on the 30M timeframe is still respecting the broader bullish flow, but internally the market is currently rotating inside a short-term distribution phase after failing to continue above the recent highs. The highlighted ascending channel shows how price has been gradually respecting higher value delivery, and the recent reaction from premium confirms that sellers are still active near the upper range boundaries. One important detail here is the way price reacted from the previous internal highs without creating continuation acceptance above them. Instead, the market delivered rejection and immediately started rotating lower toward the discounted area aligned with the bullish channel support. The marked demand zone below becomes the key area of interest because it aligns with: Internal discounted pricing Previous reaction base Dynamic bullish channel support Liquidity resting beneath short-term lows As long as price continues respecting the bullish channel structure, this current decline can still be viewed as a retracement rather than a full bearish reversal. However, if price breaks below the channel and starts accepting under the highlighted demand zone, then the bullish structure weakens and the market could transition into deeper downside delivery. For now, the market is moving from premium back toward discount, and the reaction inside the marked zone will likely decide the next directional expansion.