GBPUSD: Bullish Momentum Fades as Sellers Regain Control!British Pound vs US DollarFPMARKETS:GBPUSDFOREX_ENMPIREGBPUSD is showing signs of a potential bearish pullback on the 1-hour chart after a strong bullish recovery from the recent lows around 1.3140. As shown in the shared chart, price has moved upward toward the 1.3410 resistance zone, where selling pressure has started to emerge. The latest price action indicates that buyers are struggling to maintain their upward momentum, creating the possibility of a short-term bearish correction. The key resistance level is 1.3410. If GBPUSD continues to face rejection around this area and fails to establish a sustained breakout above resistance, sellers could regain control and push the price toward lower levels. The recent rejection near the highs suggests that the market may be entering a corrective phase after its strong upward movement. The support level around 1.3360 is an important zone to monitor. Price is currently trading near this area, and a decisive breakdown below support could strengthen the bearish scenario. If sellers successfully push the market below 1.3360, GBPUSD could move toward the first downside target at 1.3330, followed by the main target at 1.3270. From a technical perspective, the chart shows a strong bullish advance followed by rejection near the upper resistance zone. The rising trendline has supported the recent upward movement, but the latest pullback suggests that bullish momentum may be weakening. The Supertrend indicator is positioned above the current price, indicating that short-term selling pressure may be developing. However, confirmation from price action remains important before expecting a sustained downward move. Key Technical Levels: Resistance: 1.3410 Support: 1.3360 Invalidation Level: 1.3460 Target 1: 1.3330 Target 2: 1.3270 Bearish Scenario: If GBPUSD fails to break above 1.3410 and moves decisively below 1.3360, sellers could gain further momentum. This could open the way toward 1.3330, with the potential for an extended decline toward 1.3270 if bearish pressure continues. Invalidation Scenario: A sustained move above 1.3460 would invalidate the current bearish setup and suggest that buyers have regained control. In that situation, the bearish outlook should be reassessed. Trading Strategy: Traders may watch for a confirmed rejection near the 1.3410 resistance zone or a decisive breakdown below 1.3360 before considering a sell opportunity. A retest of broken support could provide additional confirmation. Monitoring candle closes, trendline behavior, and the Supertrend indicator may help assess whether selling pressure is strengthening. Final Outlook: GBPUSD is showing signs of a possible bearish correction after facing rejection near the 1.3410 resistance zone. A confirmed breakdown below 1.3360 could bring 1.3330 and potentially 1.3270 into focus. However, the bearish scenario depends on continued selling pressure, while 1.3460 remains the key invalidation level. Always apply proper risk management and wait for price confirmation before making trading decisions.