GBPUSD Technical Analysis: The pound is trading against the US dollar (GBP/USD) today in a downtrend, recording a high of 1.2645 and a low of 1.2608. Currently, it is trading around the 1.2625 level. Technical analysis indicates that prices are trading below the main moving average indicators, reflecting the strength of the downtrend in the market.
GBPUSD Technical Analysis Technical Analysis:
Moving Averages Analysis:
Technical indicators show that the pair is trading below the moving averages, indicating continued selling pressure in the short and medium term. This situation reinforces the strength of the downtrend, as the market shows a weak ability to maintain any short-term gains.
MACD Indicator:
The MACD indicator indicates a negative trend, as the MACD line is trading below the signal line. However, the indicator is showing some signs of weakness in the downward momentum, as the spread between the MACD line and the signal line is not as wide as it was previously. This could indicate a possible upward correction in the near term, but the overall trend remains bearish.
Trading Outlook:
The downtrend is expected to continue throughout the day if the pair continues to trade below the moving averages. The nearby support area at 1.2608 is an important area in determining the next trading direction; if this level is broken, the decline could extend towards lower levels such as 1.2580. In case of an upward correction, the pair could face strong resistance near 1.2645.
Trading strategies based on Buy/Sell levels
| GBPUSD | In case of buying | in case of selling |
| Entry point | 1.2661 | 1.2602 |
| Target Point 1 (TP1) | First resistance: 1.2687 | First support: 1.2567 |
| Target Point 2 (TP2) | Second resistance: 1.2699 | Second support : 1.2548 |
| Stop Loss (SL) | 1.2602 | 1.2661 |
The overall trend of the pair remains bearish, with selling pressure continuing in the short and medium term. Despite some signs of weakness in the trend strength, technical indicators support a continuation of the decline in prices unless sudden volatility occurs that pushes prices above nearby resistance levels. The support at 1.2608 should be closely monitored, as this could be a decisive point for the next trend.
