GBP/USD - Fundamental Drive Ahead!

[tradelikepro]

🧠 Setup Overview:
GBP/USD has broken below its rising trendline after testing the 1.3470 resistance zone multiple times. The pair is under fundamental selling pressure, fueled by risk aversion and renewed U.S. dollar strength.

Fundamental Drivers:
1️⃣ U.S. markets gained as President Trump decided not to impose very high tariffs on Chinese goods, which temporarily boosted sentiment.
2️⃣ However, investors are now digesting U.S. credit risks and US–China trade tensions, both adding safe-haven demand to the USD.
3️⃣ Meanwhile, the UK economy faces uncertainty from softer consumer spending and weak housing data — further limiting GBP’s upside potential.

Technical Plan:

Bias: Bearish below 1.3400
Structure: Trendline breakdown confirmed
Cloud Resistance: Adds confluence to downside momentum

Next Levels to Watch:

🟥 1st Support: 1.3349
🟥 2nd Support: 1.3310

If price closes below 1.3349 on the 30-min chart, further selling pressure may extend toward 1.3310 and possibly deeper if fundamentals align.