GbpUsd- Update for short term traders

[m_c_jacob]

In a recent analysis, I mentioned that GBPUSD looked ready for a decline, with 1.32 as a potential swing trader’s target. That view remains unchanged — and is now reinforced by the recent price action.

After finding short-term support around 1.3420, the pair rebounded yesterday, but this rebound was quickly sold, sending price back into the support zone.

Typically, this kind of repeated testing and failure to bounce leads to a downside break. Given both the time spent consolidating above support and GBPUSD’s volatile nature, a break below 1.34 could trigger strong acceleration toward the next key level at 1.3330.

This area could provide a valuable opportunity for short-term traders, which is precisely the reason for this update.