GBPUSD ELLIPSE FMFRBritish Pound / U.S. DollarFOREXCOM:GBPUSDThEDeViL18GBPUSD has delivered a strong bearish move after breaking down from a prolonged consolidation range. The highlighted oval area shows an extended period of accumulation where price repeatedly respected support before eventually losing momentum. Once support failed, sellers stepped in aggressively, creating a sharp impulsive decline and confirming bearish market intent. The recent sell-off has now pushed price into a significant demand zone that aligns with a previous reaction area. This level is likely to attract buying interest and could serve as a short-term reversal point within the broader market structure. At this stage, the focus is not on buying immediately. Instead, I want to see a clear bullish confirmation pattern develop inside the highlighted demand zone. A bullish engulfing candle, hammer, morning star, or lower-timeframe market structure shift would provide stronger evidence that buyers are defending this level. If bullish confirmation appears, price could initiate a corrective recovery toward the broken support area and nearby resistance levels. However, if the demand zone fails to hold and price closes decisively below it, the bearish trend may continue with the potential for further downside expansion.