GBPUSD Technical Analysis: The GBP/USD pair witnessed a bearish movement in today’s trading, as the pair recorded its highest trading level so far at 1.22455 and its lowest level at 1.21607. At the moment, the pair is trading at the level of 1.21875, which reflects a weakness in the upward momentum and indicates the dominance of the downward trend over the pair’s movement.
GBPUSD Technical Analysis: Technical analysis
Through technical analysis, we find that the GBP/USD pair is trading below the moving averages (MA) indicators, which clearly indicates the dominance of the downward trend over the market. This signal supports the idea that the negative movement may continue as long as prices continue to trade below these averages.
As for the MACD indicator, it also reflects a negative trend, as it shows a bearish intersection between the two lines.
which reinforces the hypothesis of the continuation of the downward pressure on the pair in the short term. The MACD indicator continues to give negative signals confirming the weakness of the upward momentum and the possibility of extending the downward movement.
Outlook:
The GBP/USD pair is expected to continue its downward trend if it continues to trade below 1.2245. In case of a decline below the support level of 1.2160, we may see an extension of the decline towards lower levels reaching 1.2100 or 1.2050. Price developments should be closely monitored.
as any move above 1.2245 may indicate an attempt at correction or an upward reversal.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.22229 | 1.21652 |
| Target Point 1 (TP1) | First resistance: 1.22492 | First support: 1.21343 |
| Target Point 2 (TP2) | Second resistance: 1.22601 | Second support : 1.21221 |
| Stop Loss (SL) | 1.21652 | 1.22229 |
With the pair trading below the moving averages and the MACD indicator in a negative direction.
the downtrend is expected to continue in the short term. Key support levels such as 1.2160 and 1.2100 should be monitored, as they may be crucial points in determining the strength of the downward movement.
