GBPUSD - bearish U-pattern relative to resistance British Pound/US DollarFX:GBPUSDRLindaGBPUSD remains in a corrective phase, but after encountering resistance at 1.3485, the pair is breaking its local structure and preparing for a potential decline Based on market positioning data, large players continue to maintain a bearish bias. At the same time, the growing concentration of short positions created the conditions for the short squeezes seen in late May and early June. Technically, a strong U.S. dollar, which is attempting an upward distribution move amid geopolitical tensions, is weighing on the pound. Meanwhile, GBPUSD continues to consolidate below key resistance, opening the door for a move toward support zones Resistance levels: 1.3485, 1.3412 Support levels: 1.3375, 1.3305 GBPUSD tested the 1.3485 resistance level and formed a U-shaped pattern below it, signaling buyer weakness against the backdrop of a strong U.S. Dollar Index. The structure is breaking down, and the market may continue lower following consolidation below 1.3485. The primary areas of interest remain 1.3375–1.3305. Best regards, R. Linda