GBPUSD Technical Analysis : The British pound retreated slightly after failing to break above the technical resistance at 1.3420, as markets await important US data (PCE).
UK data remains relatively positive, maintaining technical balance, but short-term momentum has begun to decline.
Technical Indicator Analysis
EMA
The price has broken the 20-day moving average and is heading towards the 50-day moving average.
The beginning of a moderate technical decline, supporting the correction.
MACD
A clear negative crossover with increasing negative bars.
A confirmed sign of weak momentum.
Stochastic
Continuing decline from the overbought zone.
Supports the continuation of the correction.
GBPUSD Technical Analysis : Expected Technical Scenarios
Bearish Scenario (Probable):
A break of 1.3362 confirms the completion of the correction towards 1.3346 and then 1.3315.
Selling momentum is strong on hourly indicators.
Bullish Scenario (Alternative):
A strong rebound from 1.3362 retests 1.3401. Breakthrough Only 1.3420 will resume the uptrend
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 1.34013 | 1.33662 | Entry point |
| First resistance: 1.34208 | First support 1.33467 | Target Point 1 (TP1) |
| Second resistance 1.34421 | Second support 1.33253 | Target Point 2 (TP2) |
| 1.33662 | 1.34013 | Stop Loss (SL) |
The GBP/USD pair has begun a natural technical correction after a strong uptrend, and the technical decline is likely to continue towards 1.3362 – 1.3346 unless there is a quick recovery above 1.3401.
Current price action favors short selling while monitoring support.
Recommendation: Sell from 1.3384 or after breaking 1.3362 with targets at 1.3346 and 1.3315, and stop loss above 1.3420.
