GBPUSD Pulls Back Into Key Support — Can Buyers Regain Momentum?GBP/USDOANDA:GBPUSDYong726Market Structure GBPUSD has shifted into a short-term corrective phase after failing to sustain its rally toward the late-August highs. The series of lower highs and lower lows suggests that sellers currently hold the near-term advantage. However, price is now testing an important support area where buyers may attempt to stabilize the market. Unless this support breaks decisively, the broader medium-term recovery remains intact. Market Sentiment - Neutral to Moderately Bearish Market sentiment is currently neutral to moderately bearish. Selling pressure has eased following the latest decline, but buyers have yet to produce a convincing reversal. The market remains in consolidation while waiting for a catalyst to determine the next directional move. Bullish Scenario If buyers successfully defend the current support area and reclaim 1.3535, bullish momentum could gradually return. A sustained move above 1.3555 would confirm renewed buying interest and expose the next resistance near 1.3590. Bearish Scenario If sellers push price below 1.3495, the correction may extend toward the next support around 1.3475. A decisive break beneath that level would strengthen bearish momentum and increase the probability of a deeper pullback. ──────────────────── Market Outlook GBPUSD remains under short-term pressure following its rejection from recent highs, but the current decline still appears corrective rather than a complete trend reversal. Buyers are attempting to defend an important demand zone, and the next breakout from the current range will likely determine the short-term direction. ──────────────────── Key Levels First Resistance 1.3535 Second Resistance 1.3555 First Support 1.3495 Second Support 1.3475 ──────────────────── Future Scenarios A sustained move above 1.3535 would indicate buyers are regaining confidence and could drive price toward 1.3555 and eventually 1.3590. However, if price fails to hold above 1.3495, selling pressure could accelerate toward 1.3475. Losing that support would likely trigger a broader corrective decline before buyers attempt another recovery. ──────────────────── Event Risk GBPUSD remains highly sensitive to macroeconomic data and central bank expectations. Traders continue to monitor Federal Reserve policy expectations, Bank of England guidance, U.K. inflation and labor market data, U.S. economic releases, and government bond yields. These factors are expected to remain the primary drivers of short-term price action. The next confirmed major macro event is the Federal Reserve meeting on September 15–16, 2026. Any shift in interest-rate expectations could generate increased volatility across major currency pairs, including GBPUSD. Ultimately, price reaction matters more than the headlines. If positive news cannot lift GBPUSD above 1.3535–1.3555, the current correction may continue. Conversely, if negative news fails to break 1.3495–1.3475, buyers may be preparing for another recovery. ──────────────────── Please share your view below: Do you expect GBPUSD to rebound from the current support area, or will sellers extend the correction before buyers return? More market structure and key level updates will be shared regularly.