Technical Analysis of GBP/USD

The GBP/USD pair is moving in a downtrend on the four-hour timeframe, with prices rejecting from the 1.3376 level, which represents an Order Block (OB) on the one-hour timeframe.

Currently, the pair is trading around 1.3344, and prices are expected to continue declining during today’s trading session.

Price action also shows weakening bullish momentum on lower timeframes.
If prices continue trading below the current supply zone, this could support the bearish scenario in the upcoming sessions.

Key Economic News
There are no major economic news releases today, therefore market movement is expected to remain relatively stable.

Prices are expected to decline toward 1.3305, followed by 1.3253.

Scenario Invalidation

The bearish scenario will be invalidated if the price reaches 1.3404.