Bearish Pin Bar Signals Trouble for GBPUSD Bulls

[m_c_jacob]

In my last outlook on GBPUSD, I pointed out the importance of the 1.3600 resistance area and suggested that the pair could reverse lower, eventually targeting the 1.3200 region.

I initially entered short, but as bullish momentum continued, I decided to exit early with a small 40-pip loss and wait for clearer confirmation. That patience paid off.

Yesterday, the market spiked to 1.3727, only to reverse violently, leaving a pronounced bearish Pin Bar — a classic sign of rejection at higher levels.

This price action strengthens my conviction that the medium-term bias remains bearish, with the 1.3200 zone still the key downside target.

Trading Plan: I will be looking to sell rallies, with stronger confirmation of bearish continuation expected if the market breaks back below 1.3550.

[m_c_jacob]

GbpUsd broke under confluence support as expected