GBP/USD Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
GBP/USD remains firmly in a bearish cycle, moving lower within a clear descending channel. Price recently touched the upper boundary of the channel and has started rotating back down toward the lower boundary, showing that sellers are still defending resistance. The structure continues to print lower highs and lower lows, which confirms the ongoing downtrend. The latest rally failed to break above 1.3650, reinforcing seller control. At the current price of 1.34483, the pair is sitting just above minor support but remains below key moving averages.



The 60-period SMA is acting as dynamic resistance. Price attempted to break above it but was rejected, adding to the bearish bias. The RSI is at 41.25, which is below the midpoint but not yet oversold, meaning there is still room for further downside before a technical bounce would typically be expected. RSI is also trending lower, aligning with the weakening price action.

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