GBP/USD Bulls Defend Key SupportGBP/USDOANDA:GBPUSDYong726GBP/USD Bulls Defend Key Support — Recovery Setup or Another Rejection Ahead? GBP/USD is trying to recover after the recent sharp sell-off, but the pair is still trading inside a broader decision zone rather than a fully confirmed bullish reversal. The latest rebound from the 1.3320–1.3340 support area shows that buyers are still active, especially after defending the lower boundary of the recent structure. However, the market has not yet broken above the key resistance area that would confirm stronger upside continuation. From a market structure perspective, GBP/USD has shifted from a clean bearish move into a more neutral short-term structure. The earlier drop created strong downside momentum, but the recent price action shows that buyers are attempting to rebuild control through higher reaction lows. This does not mean the trend has fully turned bullish yet, but it does suggest that selling pressure is no longer as one-sided as before. The first key area to watch is the 1.3320–1.3340 support zone. This region has acted as a short-term demand area and buyers have already reacted from this level. As long as price holds above this zone, the recovery structure remains alive. A strong defense here could give bulls another chance to push price back toward resistance. On the upside, the main resistance zone sits between 1.3440 and 1.3480. This area is important because it overlaps with the previous range and recent supply zone. If GBP/USD can break and close above 1.3460, it would be the first meaningful signal that buyers are regaining short-term control. In that case, the next upside targets could open toward 1.3500 and potentially 1.3550. For the bullish scenario, buyers need to hold above 1.3320–1.3340 and then reclaim the 1.3460 level with confirmation. If that happens, the current recovery could develop into a stronger continuation move rather than just a short-term bounce. For the bearish scenario, failure around the 1.3440–1.3480 resistance zone would keep sellers active. If price rejects from that area and breaks back below 1.3320, the pair could return to a bearish extension phase, with downside targets around 1.3280, 1.3230, and possibly 1.3180. Market sentiment is currently neutral. Buyers are defending support, but bullish momentum is still not strong enough to confirm a clean reversal. The next direction will likely depend on whether GBP/USD can reclaim 1.3460 or lose 1.3320. Right now, confirmation matters more than prediction. Above 1.3460, bulls regain control. Below 1.3320, sellers take back the momentum. What do you think? Will GBP/USD reclaim 1.3460 and continue higher toward 1.3500–1.3550? Or will sellers defend resistance and push the pair back below 1.3320? Share your view below