GBP/USD: Sideways Consolidation Points to Potential Downside Break from Resistance

The GBP/USD pair currently reflects a market in consolidation, trading at 1.26514 with minimal 24-hour change. The day's range has been notably tight, spanning from 1.26493 to 1.26535. This tight oscillation reinforces the prevailing sideways trend on higher timeframes. My approach is to trade the structure as it presents itself, without personal bias.

Technical Structure and Trade Rationale

Observing the immediate price action, GBP/USD is testing a key resistance level at 1.2654. The market has struggled to establish a clear break above the intraday high of 1.26535. This resistance, combined with the general sideways trend, suggests that the path of least resistance for a short-term move might be downwards if this ceiling holds. My