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GBPUSD | Bearish Structure Below 1.3372 Ahead of CPI

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GBPUSD | Technical Overview

The price has stabilized below the pivot level at 1.3372, which maintains a bearish outlook for the pair.
As long as GBPUSD trades under this level, the market is expected to move toward 1.3295, and a break below this zone may extend the decline toward 1.3232.

A 4H candle close above 1.3410 is required to reverse the current structure and activate a bullish momentum toward 1.3445.

Today’s U.S. CPI release will significantly impact market direction and volatility.

Pivot Line: 1.3372
Support: 1.3295, 1.3232
Resistance: 1.3410, 1.3445

Timeframe: 4H
Bias: Bearish while below 1.3372

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