On the 30-minute timeframe for the GBP/USD currency pair, the following technical picture is observed. The price is approaching the level of horizontal support at 1.3457, indicating increasing selling pressure and the likelihood of a breakout below the level. Based on the current structure, a descending scenario is expected to unfold: - If there is a breakout and a sustained move below 1.3457, further downside movement is likely; - The next target is the following support at 1.3385, where a reaction from buyers may occur. However, if the level 1.3457 holds and a bounce forms, this could lead to a short-term upward correction, but the priority remains with the downside breakout scenario.
