GBPUSD Technical Analysis: The GBP/USD pair is trading in a downtrend during today’s session, as the pair shows selling pressure that continues to affect the price action. The pair recorded its highest price today at 1.2660 and the lowest price at 1.2620, and is currently trading at 1.2648, reflecting a limited trading range within the downtrend.
GBPUSD Technical Analysis: Price Analysis
The pair is currently trading below the moving averages, reflecting bearish pressure in the short term. Continued trading below these averages indicates weak buying momentum, which supports the possibility of continuing the negative movement.
Technical Analysis Using Technical Indicators
- Moving Averages: Trading below the moving averages reinforces the idea of continuing negative pressure on the pair, as these indicators contribute to confirming the downtrend.
- MACD Indicator: The MACD indicator shows a negative trend, reflecting the strength of selling pressure. However, some weakness in the trend suggests that the downward momentum may be easing slightly, and we may see some volatility in the short term.
Today’s Trading Outlook
The pair is expected to continue its downtrend in the short term, with support levels at 1.2620 possible to be tested. If the selling pressure continues, the pair could continue its decline towards lower support levels.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.2677 | 1.2629 |
| Target Point 1 (TP1) | First resistance: 1.2696 | First support: 1.2598 |
| Target Point 2 (TP2) | Second resistance: 1.2710 | Second support : 1.2578 |
| Stop Loss (SL) | 1.2629 | 1.2677 |
Based on the current technical analysis, the GBP/USD pair remains in a downtrend, with trading below the moving averages and negative signals from the MACD. Despite some weakness in the downside momentum, the overall outlook remains negative in the short term, with further declines possible if there is no sudden shift in the influencing factors.
