GBPUSD MARKET ANALYSIS

Good evening traders, GBPUSD is another market that I have been keenly watching out for since leaving the major H4 & daily supply zone at 1.28460 & 1.27950. Price 1st dropped 185 pips to 1.26630 then retraced back to 1.27000 forming another lower high on H4. Price formed a zone on H1 & H4 at 1.27080 & 1.26700 which was a previously broken demand now retested as new supply. Price then gained strong bearish momentum showing a potential continuation of the bearish trend. Price formed a lower low at 1.26150 then retraced back to the H1 & H4 zone to form a lower high before a continuation of the drop lower. I anticipate a continuation of the prevailing bearish trend with my target being the major H4 & daily demand zone at 1.25250 & 1.24840 for the major H4 & daily range to be filled.