GBPUSD: Bearish Outlook Explained 🇬🇧🇺🇸

GBPUSD is trading in a bearish trend on a daily.
The price broke and closed below a key daily horizontal support last week.

The broken structure and a falling trend line now compose the contracting supply zone.
We already saw a strong rejection from its lower boundary on Monday.

Bears will most likely keep dominating.
Next support 1.24

For entries, consider the underlined blue area.

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