GBP/USD Technical analysis

Source: Dukascopy Bank SA




The market is currently moving sideways within the range of 1.32600 to 1.34000, showing no clear trend direction. This consolidation may continue in the short term unless a strong breakout occurs. If the price begins to decline and breaks below the longer-period simple moving averages, it could indicate weakening momentum. In that case, the price may test support levels around 1.33000 and possibly down to 1.32600. A drop below 1.32600 would signal a potential shift toward a bearish outlook, while a strong move above 1.34000 could point to renewed buying interest.
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