GBP/USD Analysis. The British pound is currently trading at 1.3279, after experiencing a strong decline over the past few hours, breaking the important support at 1.3200, before retesting it technically. Price action is showing attempts at a rebound, but it remains below the short-term moving averages, maintaining negative pressure on the H1 timeframe.
Technical Indicators Analysis: GBP/USD Analysis
MACD: Deepening its presence in the negative zone with the continued expansion of the negative bars, reflecting strong selling momentum.
Stochastic: Remaining in a downtrend below the 30 level, indicating continued selling pressure despite some signs of approaching oversold conditions.
Moving Averages: The price is below all major moving averages, supporting the bearish technical bias.
GBP/USD Analysis : Expected Scenarios
Bullish Scenario:
- If the pair succeeds in breaking 1.1158 and holds above it, we may witness an upward correction towards 1.1185 and then 1.1207, with the overall trend remaining negative unless 1.1225 is surpassed.
Bearish Scenario:
- A break of 1.1116 will push the pair towards the next support level at 1.1100. If the pressure continues, 1.1086 could be the next target during the session.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 1.32081 | 1.31876 | Entry point |
| First resistance: 1.32357 | First support: 1.31590 | Target Point 1 (TP1) |
| Second resistance 1.32657 | Second support 1.31290 | Target Point 2 (TP2) |
| 1.31876 | 1.32081 | Stop Loss (SL) |
The EUR/USD pair is steadily moving within a clear downward channel on the H1 timeframe, influenced by weak demand for the European currency coupled with rising US bond yields. Continuing below 1.1158 maintains the negative momentum, while a break of 1.1116 is a potential gateway to further declines in the coming hours. Awaiting US data releases should be closely monitored, as they will play a crucial role in determining the short-term price direction.
Economic data expected this week:
- United States:
Monthly Producer Price Index (PPI) – expected to provide direct indications of inflation pressures before the CPI data.
Weekly Jobless Claims – if lower than expected, it could support the dollar’s strength.
- Eurozone:
No major data releases today, making the pair more sensitive to US dollar movements and safe-haven flows.
