GBPUSD Technical Analysis: The GBP/USD pair is trading in a bearish trend today, as the pair recorded its highest price so far at 1.26373 and the lowest price at 1.26112, while it is currently trading at 1.26186. This indicates a relatively weak movement in the downward direction with continued trading below the moving averages.
which enhances the possibility of continued downward pressure on the pair.
GBPUSD Technical Analysis: Technical analysis
- Moving averages: The pair shows a clear decline in price below the short and long moving averages, which reflects the sellers’ control of the market at the present time. Trading below the averages indicates weak demand for the GBP/USD, which enhances the continuation of the downward trend in the short term.
- MACD indicator: The MACD indicator indicates a negative trend, as the indicator values show a bearish crossover with decreasing momentum, which reflects a weakness in the upward movement while strengthening the downward trend. The continued crossing of the lines in the negative zone reinforces the bearish hypothesis in the near term.
Forward Outlook:
The pair is likely to continue the bearish trend in the short term as it continues to trade below the moving averages and the momentum shown by the MACD indicator is weak. If the selling pressure continues, the pair may witness further decline towards the support levels near 1.25965. However, any signs of a change in momentum that may lead to short-term upward corrections should be monitored.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.46471 | 1.25965 |
| Target Point 1 (TP1) | First resistance: 1.26683 | First support: 1.25688 |
| Target Point 2 (TP2) | Second resistance: 1.26741 | Second support : 1.25421 |
| Stop Loss (SL) | 1.25965 | 1.46471 |
The pair is in a clear downtrend today, trading below the moving averages and the MACD indicator reflects the strength of the negative trend. Although the momentum is relatively weak, the technical analysis supports the possibility of a continuation of the downtrend in the near term.
with the possibility of testing new support levels if the selling pressure continues.
