GBPUSD Technical Analysis: The GBP/USD pair is witnessing a noticeable decline in a bearish trend during today’s trading session, as it fell from its highest level at 1.3042 to its lowest level at 1.2840, and is currently trading at the level of 1.2854.
GBPUSD Technical Analysis: Technical Analysis
It appears that the pair is currently trading below the levels of the main moving averages, which reinforces the negative outlook and indicates the continuation of the downward pressure on the pair. Trading the price below these averages indicates that the market prefers the downward trend and that any attempts to rise are still limited by selling pressure.
The MACD indicator also shows a clear negative trend.
as it recorded a bearish divergence between the price and the indicator.
which reflects the weakness of the upward momentum and reinforces expectations of a continued decline. The MACD indicator shows a negative crossover, which adds to the confirmation of the downward trend in the short term.
Today’s Forecast:
As trading continues below the moving averages, the pair is likely to continue its decline towards strong support levels near 1.2800. In case of breaking this area, the pair may continue its decline towards the next support levels at 1.2750 and 1.2700.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.2877 | 1.2841 |
| Target Point 1 (TP1) | First resistance: 1.2893 | First support: 1.2818 |
| Target Point 2 (TP2) | Second resistance: 1.2913 | Second support : 1.2780 |
| Stop Loss (SL) | 1.2841 | 1.2877 |
The GBP/USD pair appears to be in a bearish trend at the moment, supported by the price interaction with the moving averages as well as the negative signal from the MACD indicator. If the downward pressure continues, we could see further declines in the short term. It is advisable to focus on strong support levels and closely monitor the impact of any economic news or data that may affect the market movement.
