Economic Calendar
Volatlity may persist for further week in FX pair.
GBP/USD hourly chart analysis
GBP/USD is in a bearish trend but currently moving sideways in a small pennant or flag pattern. Key levels to watch: resistance at 1.3500 and 1.3530, support at 1.3477 and 1.3436. The price is below SMA 50, 100, and 200, showing downward pressure, and a drop below SMA 50 could start the next leg down. The price is being squeezed between SMA 100 and 1.3477, signaling a likely breakout soon.
Hourly Chart
GBP/USD daily candle chart analysis
GBP/USD is consolidating after a strong bearish move from the February highs, hovering around a critical decision zone where multiple technical indicators converge. The pair has been in a steady downtrend since peaking near 1.3800 in early February. Momentum has slowed, and the price is now around 1.3472, struggling to find direction just above major support. The price is sandwiched between three SMAs, showing indecision. The SMA 50 is above the price, acting as short-term resistance, keeping the bias bearish while the SMA 200 is resting at a key long-term support, with a break below signaling major bearish continuationRead More: Technical Analysis
Traders are short
For GBP/USD, 42.12% of traders are long while 57.88% are short. This indicates a bearish sentiment as more traders expect the pair to decline. However, the market can always change quickly based on new information or events.