GBPUSD Technical Analysis: The GBP/USD pair is trading in a bearish trend today, as the pair has witnessed a noticeable decline since the beginning of the trading session, after it had witnessed an upward trend. The pair recorded its highest price so far at 1.3072 and the lowest price at 1.2980, and is currently trading at 1.3033. The price differences reflect the change in the trend from bullish to bearish, as shown in the chart.
GBPUSD Technical Analysis: Technical analysis
To confirm the bearish trend, we find that prices are trading below the moving averages, which reinforces the negative outlook. The MACD indicator also indicates a negative trend, driven strongly by the selling demand side, which reflects the continued pressure on the pair.
Trading expectations:
We expect the pair to continue in the bearish trend, with the possibility of testing the support levels at 1.2980. In the event of any rebound, the pair may reach the resistance levels at 1.3050.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 1.3055 | 1.3013 | Entry point |
| First resistance: 1.3072 | First support: 1.2991 | Target Point 1 (TP1) |
| Second resistance: 1.3095 | Second support : 1.2970 | Target Point 2 (TP2) |
| 1.3013 | 1.3055 | Stop Loss (SL) |
The outlook for the GBP/USD pair remains bearish, with strong indicators supporting this trend. Traders should carefully monitor the current situation and be prepared to react to any changes in the market, especially with the increasing pressure from sellers.
