GBPUSD has broken below the highlighted support zone and the market structure remains bearish on the 12H timeframe, with sellers maintaining control after repeated rejections from higher supply areas.
The breakdown and weak retest suggest further downside pressure, opening the door for a continuation toward the 1.3050 and potentially the psychological 1.3000 region.
Recent order flow and lower highs indicate that bearish momentum is still dominant, while the former support zone is now acting as resistance.
As long as price remains below the 1.3250 area, rallies could attract fresh selling and extend the downward move.
Fundamentally, expectations surrounding Federal Reserve policy and stronger US Dollar demand continue to weigh on GBPUSD sentiment.
Upcoming US and UK economic releases may increase volatility, but the overall bias remains bearish while price stays below the broken support zone.
The breakdown and weak retest suggest further downside pressure, opening the door for a continuation toward the 1.3050 and potentially the psychological 1.3000 region.
Recent order flow and lower highs indicate that bearish momentum is still dominant, while the former support zone is now acting as resistance.
As long as price remains below the 1.3250 area, rallies could attract fresh selling and extend the downward move.
Fundamentally, expectations surrounding Federal Reserve policy and stronger US Dollar demand continue to weigh on GBPUSD sentiment.
Upcoming US and UK economic releases may increase volatility, but the overall bias remains bearish while price stays below the broken support zone.
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✅ ✅✅Join our Free Forex Community Telegram Channel here.
Hit the Link below
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.