Expected Movement of the GBP/USD Pair

The GBP/USD pair is moving in a general downtrend.

The pair has bounced from demand zones on the 4-hour timeframe.

This is expected to push the pair upwards towards the supply zones above,

 from which it previously fell near the 1.3148 level.

These are very important levels at the moment,

 as they are expected to determine the pair's movement in the medium term.

Expected Scenarios

If the pair rises to the identified supply zones near the 1.3148 level,

we have several possible scenarios.

The first scenario is a return to the downtrend and a continuation of the downtrend.

We might see a retest of the demand zones from which it bounced near the 1.3052 level.

The second scenario is an upward move, 

provided that the 4-hour candle breaks and closes above the identified supply zones.

If the upward trend continues, the pair will target the supply zones.

These are the next areas shown above,

 which are near the 1.3335 level, as illustrated in the chart.