GBP/USD: Technical Rejection at Resistance Suggests Short Opportunity

Market Context and Technical Analysis

The GBP/USD pair is currently trading at 1.26511, exhibiting a sideways trend over the past 24 hours with minimal movement. The day range has been tight, oscillating between 1.26495 and 1.26527. What is particularly noteworthy is the consistent rejection at the immediate resistance level of 1.2653. Price action has repeatedly struggled to establish a firm foothold above this point, indicating underlying selling pressure whenever the pair approaches the upper boundary