GBPUSD → One step away from breaking support and falling away

20 בדצמ׳

GBPUSD is facing difficulties. Negative fundamental background, strong dollar and price entry into the selling zone gives a bunch of preconditions hinting at the continuation of the fall



Yesterday the UK GDP came out, which remained at the same level, there is no driver for GBP at the moment, but there is for USD, which is growing after interest rate cuts, but the growth is not because of this, but because of hints of stopping the cycle of further rate cuts and the change of officials' mood to hawkish, which in general, against the background of Trump's policy indicates medium-term potential. Technically, the currency pair is testing the risk zone, a false breakout will form a rebound reaction and I think it will be a short-term reaction.

Resistance levels: 1.257, 1.2597, 1.2665
Support levels: 1.2488, 1.245

After the false breakdown, the currency pair may test the local resistance. But retest of the support within 1-3 days will play an important role. Formation of a pre-breakout base at 1.2488 will strengthen the potential for further decline

With Respect R. Linda!