GBPUSD Technical Analysis: The GBP/USD pair is trading in a bearish trend today, with the price currently recording 1.3082. The highest price of the pair since the beginning of this week was at 1.3089, while the lowest price was at 1.3057. This movement indicates that there is ongoing selling pressure.
GBPUSD Technical Analysis of Technical Indicators:
Trading shows that prices are below the moving averages, which reinforces the bearish trend. In addition, the MACD indicator reveals a clear strength in the downtrend, which indicates that sellers are significantly controlling the market.
Possible Expectations:
During the day, the pair is expected to continue its bearish trend. If the selling pressure continues, we may see moves towards the 1.3050 level. However, in case of any upward rebounds, the 1.3090 level will be the main resistance to watch.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 1.3118 | 1.3061 | Entry point |
| First resistance: 1.3142 | First support: 1.3031 | Target Point 1 (TP1) |
| Second resistance: 1.3160 | Second support : 1.3009 | Target Point 2 (TP2) |
| 1.3061 | 1.3118 | Stop Loss (SL) |
Based on the current technical analysis, traders are advised to be cautious and focus on technical indicators to determine the best entry and exit points. The overall trend is still down, which requires a proper trading strategy with consideration for risks.
