GBPUSD – Sellers Are Still Setting the PaceGBP/USDOANDA:GBPUSDParadise_NoirGBPUSD is sending a fairly clear message: the recovery attempts are still not strong enough to change the broader direction. Price is trading around 1.3370 after a sharp decline, while pressure from the U.S. dollar and the 12H structure keeps my short-term view tilted to the downside. From a macro perspective, the U.S. dollar still holds the advantage after the Fed maintained a hawkish policy stance. In the UK, the Bank of England also remains cautious about persistent inflation risks, but that has not yet generated enough demand to produce a meaningful recovery in sterling. GBP may still see temporary rebounds, but there is currently no clear catalyst strong enough to reverse the pressure on GBPUSD. On the 12H chart, the bearish structure remains well defined, with a sequence of lower highs developing beneath the descending trendline. Following the latest selloff, price is attempting a modest recovery toward 1.3400, but it remains below the trendline and Ichimoku structure. If buyers fail to regain control here, the 1.3245–1.3290 area becomes the next zone to watch. My preferred scenario is that the current recovery gives sellers another opportunity to step back in rather than marking the beginning of a new bullish trend. As long as GBPUSD remains capped beneath the resistance structure above, bearish continuation remains my primary scenario, with the 1.3250 area as the next key downside target.