GBPUSD Technical Analysis: The GBP/USD pair is trading in a downward range today, as the pair continues to fluctuate within a downward trend with continuous selling pressure. The pair recorded its highest price so far at 1.2320 and the lowest price at 1.2263, while it is currently trading at 1.2314. This indicates the continuation of the strength of the downward trend in the market.
GBPUSD Technical Analysis: Price analysis
The technical analysis of the pair indicates that prices are trading below most of the moving average indicators, which reinforces the downward trend hypothesis. As these averages are important resistance levels, reflecting the continued weakness of the upward momentum in the market.
Technical analysis
Moving averages:
Prices are trading below the moving averages in the short and medium term, indicating the dominance of the downward trend at the present time. These moving averages act as resistance levels that prevent any new attempts to rise for the pair, which reinforces the possibility of a continued decline in prices.
MACD Indicator Analysis:
The MACD indicator is clearly indicating a negative trend, reflecting the weakness of the upward momentum and the presence of selling pressure dominating the market. The intersection of the lines on the indicator indicates that the negative movement may continue, which reinforces the bearish outlook for the pair.
Trading Expectations:
Based on the current technical analysis, the pair is expected to continue its downward trend in the coming period. The pair may continue to test nearby support levels such as 1.2263
and there may be opportunities to extend the downward movement if trading continues below the moving averages.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.2345 | 1.2291 |
| Target Point 1 (TP1) | First resistance: 1.2369 | First support: 1.2260 |
| Target Point 2 (TP2) | Second resistance: 1.2380 | Second support : 1.2230 |
| Stop Loss (SL) | 1.2291 | 1.2345 |
The technical analysis of the GBP/USD pair clearly indicates a bearish trend, supported by the price trading below the main moving averages and the negative signals from the MACD indicator. In light of these data, the short-term outlook remains inclined towards the continuation of selling pressure on the pair.
