GBPUSD’s recent price action suggests continued weakness. This analysis examines the technical situation and explores potential scenarios for the currency pair.
GBPUSD Stuck in Downtrend:
Downside Target in Focus:
Upside Scenario: Signs of a Correction?
Resistance Levels to Consider:
Overall Sentiment:The technical outlook for GBPUSD remains bearish in the short term. The price action below the falling trend line suggests a continuation of the downtrend. However, a breakout above the trend line could signal a potential correction. Close monitoring of price action around the key resistance levels will be crucial in determining the future direction of GBPUSD.More By This Author:USDCHF In Focus: Uptrend Holding Or Correction Underway?
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