GBPUSD Technical Analysis: The GBP/USD pair is moving in a bearish trend today, recording a high of 1.31076 and a low of 1.29589. It is currently trading around 1.30056.
GBPUSD Technical Analysis: Technical Analysis for the GBP/USD Pair
Moving Averages
The pair is trading below the major moving averages, reinforcing the current downward pressure:
MACD Indicator
The MACD indicator is showing negative signals that reinforce the downward trend:
- The main MACD line is below the signal line, indicating a continuation of the decline.
- The histogram bars are below zero, showing an expansion in selling momentum.
GBP/USD Trading Forecast
- Bearish scenario: If trading continues below 1.29791, the pair may target 1.29496 and then 1.29257.
- Bullish scenario: If the price exceeds 1.30395, it may attempt a rebound towards 1.30611, which serves as key resistance.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.30395 | 1.29791 |
| Target Point 1 (TP1) | First resistance: 1.30611 | First support: 1.29496 |
| Target Point 2 (TP2) | Second resistance: 1.30722 | Second support : 1.29257 |
| Stop Loss (SL) | 1.29791 | 1.30395 |
The overall trend for the GBP/USD pair remains bearish, supported by technical indicators, with the possibility of further decline if the price remains below the moving averages. Traders are advised to monitor support and resistance levels and MACD signals to identify selling opportunities.
