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The GBP/USD pair continued to trade under bearish pressure in line with our previous outlook, reaching the 1.3370 target and posting a low at 1.3363, confirming the persistence of selling momentum.
Technical Outlook – 4-Hour Chart
Simple moving averages remain positioned above price action, acting as dynamic resistance and maintaining downside pressure. This setup, together with negative momentum signals, suggests that the corrective decline is likely to persist in the near term.
As long as daily trading remains capped below the 1.3430 resistance level, the risk of further losses remains elevated. The first downside target stands near 1.3350, and a break below this level would likely extend the decline toward 1.3310.
On the other hand, a recovery scenario would require price to hold above the 1.3435 area. In that case, the pair could attempt a rebound toward 1.3480, followed by 1.3520.
Risk Warning:
Market conditions remain high-risk amid ongoing trade and geopolitical tensions, and all scenarios remain possible.
Trading CFDs involves risks, and therefore all scenarios may be plausible. The information provided above is not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 1.3350 | R1: 1.3435 |
| S2: 1.3310 | R2: 1.3480 |
| S3: 1.3270 | R3: 1.3520 |
