Alright folks, grab your trading helmets and a stress ball — we’re diving into the wild world of GBPUSD! Here’s what the charts are screaming (while we sip tea and pretend we’re calm):

Since March 2023, GBPUSD’s been climbing like a determined toddler on a sugar rush. Higher highs? Check. Higher lows? Double-check. It’s basically been doing the “Stairway to Heaven” routine in an ascending channel.

• On March 6, 2023, the market bounced from around 1.18000, and by July 10, 2023, it had reached a high of 1.31.
• After that, GBPUSD formed a higher low around 1.20 on October 2, 2023.
• Then, the market moved sideways for a while, forming internal structures with minor ups and downs.
• Eventually, it broke the previous high and on September 23, 2024, formed a new higher high at 1.34.
• The next higher low was set at 1.21 on January 13, 2025.
• Now, the price has already broken the previous high of 1.34, making a new higher high at 1.35960 last week. It also touched the upper trendline of the ascending channel.

This week’s candle seems to be either retesting the upper trendline or trying to break out of it altogether.
However, personally, I’m expecting a bearish move over the next 2 to 3 months.

If the price breaks out above 1.36/1.37, it could head toward 1.40.
But if history repeats itself, we should see the price falling to at least 1.25.

In the bearish scenario:

• A breakdown below 1.33 will be my Sign of Weakness (SOW).
• For a more conservative confirmation, a break below 1.31 is essential.

Additionally:

• The Weekly RSI is currently at 69.50, down from 72.60 two weeks ago.
• A monthly supply zone has also been hit.
• Based on these signs, the market looks bearish to me, with a long-term potential target at 1.25.

Now, it’s up to GBPUSD—either it’ll wreck my plans or give me a great run… 😄

Disclaimer: This ain’t financial advice! I’m just a random voice on the internet yelling about lines on a screen. Do your homework, talk to your therapist (or your wallet), and never risk cash that should’ve gone to pizza. If you lose money, I’m legally adopting your cat as my alibi. Trade responsibly!