GBPUSD Technical Analysis: Today it is trading in a strong downward trend, as it witnessed a significant decline from the price of 1.3262 to its lowest level at 1.3090, reaching the current price of 1.3110. This decline reflects the ongoing selling pressure in the market.
GBPUSD Technical Analysis: Technical analysis
Moving average indicators
It is clear from the chart that prices are trading below the moving average indicators, which reflects the strength of the downward trend. This phenomenon indicates that selling pressure is still ongoing, which reinforces expectations of a continued decline.
MACD indicator
When looking at the MACD indicator, we notice the presence of a bearish force supporting the downward trend, as sellers remain in control of the market. This force reflects a decline in buyers’ desire to enter the market, which increases the chances of a continued decline.
Forecast for the pair during the day
The GBP/USD pair is expected to continue to decline during today’s trading session. If the support level of 1.3100 is broken, we may see further decline towards 1.3050. The resistance levels at 1.3130 and 1.3150 should be monitored, as some price fluctuations may occur.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 1.3155 | 1.3081 | Entry point |
| First resistance: 1.3187 | First support: 1.3041 | Target Point 1 (TP1) |
| Second resistance: 1.3210 | Second support : 1.3021 | Target Point 2 (TP2) |
| 1.3081 | 1.3155 | Stop Loss (SL) |
The GBP/USD pair is trading under strong selling pressure, with signs of a continuation of the downtrend. It is important to monitor support and resistance levels to determine the best entry and exit points.
