Technical Analysis of GBP/USD

The GBP/USD pair is moving in a bearish trend on both the daily and four-hour timeframes. Prices rejected lower from the 1.3445 level, which represents an important selling zone. Currently, prices are trading around the 1.3388 level, and further bearish movement is expected during today’s session.

Selling pressure is clearly visible as prices failed to hold above the recent resistance levels. In addition, continued trading below the 1.3445 level supports the possibility of further downside movement during the upcoming sessions.

Key Economic News

There are no major economic news releases affecting the US Dollar today, so market movement on GBP/USD is expected to remain relatively calm.

Upcoming Liquidity Levels:

Prices are expected to decline toward the 1.1505 level, followed by 1.1441.

Scenario Invalidation:

The bearish scenario will be invalidated if prices revisit the 1.1659 level.