Technical Analysis of GBP/USD

GBP/USD 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 downside movement is expected during today’s session.

Additionally, continued trading below the 1.3445 level supports sellers’ control over the current market movement. Selling pressure is clearly visible on short-term price action, which increases the probability of continuing the bearish move during the upcoming sessions.

Important Economic News:
There are no major economic news releases for the US dollar today. Therefore, price action on GBP/USD is expected to remain relatively stable and consistent.

Upcoming Liquidity Levels:
Prices are expected to decline toward the 1.3304 level, followed by the 1.3173 level.

Scenario Invalidation:
The bearish scenario will be invalidated if price reaches the 1.3488 level.

Technical Analysis of the GBP/USD Pair The GBP/USD pair is trending downward on the daily and four-hour timeframes. Prices have pulled back from the 1.3445 level, which represents a key resistance zone. Prices are currently hovering around the 1.3388 level, and the downward trend is expected to continue throughout the day. Furthermore, continued trading below the 1.3445 level supports the sellers’ dominance in the current movement. Selling pressure is clearly evident in short-term movements, reinforcing the likelihood of the decline continuing in the coming sessions.   Key Economic News: There is no significant news regarding the US dollar today, so the movement in the GBP/USD pair is expected to be consistent.   Upcoming support levels: Prices are expected to decline, targeting 1.3304, then 1.3173.   Negation of the scenario: The bearish scenario will be negated if prices reach 1.3488.