GBPUSD – Rebound Before the Next Leg Down

[m_c_jacob]

In my previous GBPUSD analysis, I pointed out that the pair could reverse sharply and head toward the 1.32 support zone.
That move has already begun: after reaching a high slightly above 1.37, the pair dropped aggressively into the 1.3335 interim support.
Currently, price is in the middle of a normal rebound, which I see as a potential setup for sellers rather than a change in trend.

Key Levels & Trading Plan:
• The sell zone is between 1.3460 – 1.3500, where I expect bears to regain control.
• My downside target remains 1.3200, in line with the broader bearish structure.
• Only a decisive break above 1.3500 would force me to re-evaluate this view.
For now, this rebound looks like an opportunity to rejoin the trend from better prices.