Technical Analysis of GBP/USD

GBP/USD is moving in a bearish trend on the four-hour timeframe. Prices have bounced downward from the 1.3379 level, which represents a Fair Value Gap (FVG) on the four-hour chart.

On the 15-minute timeframe, price has successfully shifted the market structure from bullish to bearish. Further downside is expected if the 1.3348 level is broken.

Current price action indicates that sellers are dominating the short term, with potential continuation of bearish pressure if prices remain below these levels.
Remaining below the Fair Value Gap area further strengthens the possibility of extending the downward move in the upcoming sessions.

Key Economic News

The US dollar is awaiting the release of the ISM Services PMI data today, which may significantly impact the movement of GBP/USD.

Prices are expected to decline toward 1.3304, followed by 1.3251.

Invalidation Scenario

The bearish scenario will be invalidated if price visits the 1.3405 level.