GBPUSD Technical Analysis: The GBP/USD pair is witnessing a bearish movement during today’s trading, as the pair recorded a high of 1.2687 and a low of 1.2609, and is currently trading at 1.2648. These movements reflect a bearish bias in the market, while the markets are still under negative pressure.
GBPUSD Technical Analysis: Technical analysis
We notice that the pair is currently trading below the main moving averages, indicating a weakness in the upward momentum and the possibility of a downward trend. This analysis enhances the bearish opportunities, as trading below these averages may indicate the beginning of a weakness in the upward trend that dominated the market in the previous period.
As for the MACD indicator, it is showing the beginning of negative signals, as the indicator began to decline below the zero line, reflecting a shift in momentum towards the negative direction. This signal from the MACD indicator supports the bearish vision.
as it shows the beginning of strength in the downward movement.
Future Outlook:
If prices continue to trade below the moving averages and additional negative signals from the MACD indicator appear.
we may see further decline towards the next support levels. In case of breaking the 1.2600 level, it may open the way for further decline, with potential targets around the 1.2550 and 1.2500 levels.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.2674 | 1.2630 |
| Target Point 1 (TP1) | First resistance: 1.2695 | First support: 1.2605 |
| Target Point 2 (TP2) | Second resistance: 1.2715 | Second support : 1.2585 |
| Stop Loss (SL) | 1.2630 | 1.2674 |
The current technical analysis shows negative signals for the GBP/USD pair.
as the pair is trading below the major moving averages and the MACD indicator shows the beginning of a shift in momentum towards the downside. If the pair continues to maintain these negative trends, it is likely to witness further declines in the short-term. However, it remains important to monitor key support levels (such as 1.2600) to determine the next range of movement for the pair.
