GBPUSD Technical Analysis: The GBP/USD pair is trading today in a clear downtrend. The price has declined from its highest point today at 1.2994 to its lowest point at 1.2943, and is currently at 1.2953.
GBPUSD Technical Analysis Trend analysis:
The downtrend is evident from the chart, as the data indicates that prices are trading below the moving averages, which reinforces the strength of the negative trend.
Technical analysis:
- Moving averages: confirm the weakness of the upward momentum, which supports the downtrend.
- MACD indicator: shows strength in the negative direction, indicating the pressure of sellers controlling the market.
Today’s forecast:
If the selling pressure continues, the pair is likely to head towards key support levels at 1.2930.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 1.2975 | 1.2941 | Entry point |
| First resistance: 1.2989 | First support: 1.2920 | Target Point 1 (TP1) |
| Second resistance: 1.3000 | Second support : 1.2880 | Target Point 2 (TP2) |
| 1.2941 | 1.2975 | Stop Loss (SL) |
The GBP/USD pair is showing a bearish trend supported by technical indicators. It is advisable to monitor any economic events that may affect the pair’s movement during the upcoming sessions.
