GBPUSD 1HOUR CHART TECHNICAL ANALYSIS NEST MOVE POSSIBILE

This chart represents the GBP/USD (British Pound / US Dollar) currency pair on a 1-hour timeframe. Here’s what it indicates:

1. **Support Level (Yellow Zone)**:
- The price previously found strong buying interest at this level.
- Multiple touches in this zone indicate strong demand, leading to a bullish rally.

2. **Uptrend and Rejection (Blue Lines & Box)**:
- The price moved upward from the support level, forming a strong bullish trend.
- It reached a resistance zone (highlighted in blue), where selling pressure increased.
- The price struggled to break above this resistance.

3. **Break of Trendline & Bearish Indication**:
- The uptrend trendline has been broken, signaling potential trend reversal.
- The blue arrow suggests that the price might move downward, possibly targeting the red level at **1.27846**.

### Conclusion:
- The chart suggests a **potential bearish movement** after failing to break resistance.
- If the price sustains below the broken trendline, it could decline toward **1.27846** or lower.
- Traders may watch for confirmations like **bearish candlestick patterns** or a retest of the broken trendline before taking positions.

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