Technical analysis for GBP/USD
The GBP/USD pair is moving in a downward trend on the 4-hour timeframe with prices retreating from the WFVG zone around the 1.3187 level. We can also observe the formation of a lower high compared to a previous one unlike EUR/USD which is forming higher highs this is known as an SMT Divergence indicating clear weakness in the GBP/USD pair. Given the expected strength of the US dollar at the moment a further decline in the pair is likely during the day.

Major economic news
There are no significant news releases for either the dollar or the pound today so price movement is expected to remain steady.

Liquidity levels
Prices are expected to decline targeting levels of 1.3035 then 1.3012 and finally 1.2942.

Scenario invalidation
The bearish outlook will be invalidated if a 4-hour candle closes above the 1.3187 level.