On the H1 chart of GBPUSD the market has entered a consolidation zone after a short‑term rally to 1.3452 on June 12. Since then the pair has been carving lower highs and lower lows, with the last three candles closing below the 1.3420 level. Volume has been falling from the 8k‑5k spikes seen during the breakout to sub‑2k levels, indicating waning buying pressure. The 1.3435‑1.3440 area now acts as a thin resistance, while the 1.3390‑1.3395 band provides a near‑term support. A bearish bias is reinforced by the failure to retest the breakout high and by the shrinking candle bodies. A…

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