GBPUSD Technical Analysis: The GBP/USD pair is trading in a downtrend today, but it is showing significant weakness. The pair fell to its lowest price at 1.3309, then rose to its highest price so far at 1.3387, and is currently trading at 1.3369.
GBPUSD Technical Analysis Technical analysis:
Technical indicators, especially the moving averages, show that the pair is trading above these levels, indicating a decline in the strength of the decline. The MACD indicator also shows the end of the negative trend, which enhances the chances of the pair moving upward.
GBPUSD Technical Analysis Expectations during the day:
- In the event of an increase: If the pair continues to stabilize above the 1.3369 level and the MACD reading rises, we may witness an upward wave targeting the next resistance levels at 1.3400 and 1.3425.
- In case of a decline: If the pair breaks the 1.3309 level, with confirmation from the MACD indicator, we may see negative movements targeting the support levels at 1.3280 and 1.3250.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 1.3390 | 1.3327 | Entry point |
| First resistance: 1.3422 | First support: 1.3306 | Target Point 1 (TP1) |
| Second resistance: 1.3450 | Second support: 1.3285 | Target Point 2 (TP2) |
| 1.3327 | 1.3390 | Stop Loss (SL) |
Despite the general downtrend, signs of weakness in the downward momentum reflect opportunities for an upward correction. It is advisable to closely monitor technical indicators to identify optimal entry and exit points.
