GBPUSD Technical Analysis is witnessing bearish trading today, as the pair recorded a high of 1.24617 and a low of 1.23988, to currently trade near the 1.23996 level. This movement reflects the continued negative pressure on the pair, with prices trading below the main moving averages, indicating a continuation of the downward trend in the near term.
GBPUSD Technical Analysis General Trend Analysis:
The pair is trading in a bearish trend in the short term, as prices continue to move below the moving averages.
which reinforces the hypothesis that the market is facing strong selling pressure. The general trend remains bearish as long as trading is below these averages, with the likelihood of continuing the negative movement in the near future.
Technical Analysis
Moving Averages: Prices are trading below the main moving averages, indicating the absence of purchasing power and confirming the bearish trend of the market. The market remains under sustained selling pressure.
with no strong signs of a bullish reversal yet, reinforcing expectations of a continuation of this downtrend in the short term.
MACD Indicator: The MACD indicator shows a clear negative trend.
as the indicator shows a bearish divergence, reinforcing the idea of continued selling pressure on the pair. The MACD lines’ crossover reflects a further decline in the bullish momentum, suggesting that the downtrend may continue in the near term.
Future Market Outlook:
The downtrend is expected to continue as long as the pair remains trading below the major moving averages. With negative signals from the MACD indicator, the possibility of continued selling pressure remains.
which may lead to testing deeper support levels in the short term.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.24324 | 1.23806 |
| Target Point 1 (TP1) | First resistance: 1.24547 | First support: 1.23583 |
| Target Point 2 (TP2) | Second resistance: 1.24655 | Second support : 1.23321 |
| Stop Loss (SL) | 1.23806 | 1.24324 |
The GBP/USD pair is in a sustained downtrend, according to technical analysis using moving averages and the MACD indicator. The pair is likely to continue its downward path as long as it remains below the moving averages, opening the way to test new support levels. It is advisable to monitor the market carefully for signals that may indicate a change in trend or a reversal in the market in the future.
