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The British pound continued its downward trajectory against the U.S. dollar during the previous session, reaching a new low at 1.3533, in line with earlier technical expectations.
Technical Outlook – 4-Hour Timeframe:
Bearish momentum remains firmly in place, with the simple moving averages acting as dynamic resistance levels, preventing any sustainable upward correction. Notably, the 50-period moving average aligns with the 1.3610 resistance level, reinforcing this zone as a key technical barrier. Meanwhile, the Relative Strength Index (RSI) is issuing clear negative signals, supporting the continuation of the short-term downtrend.
Probable Scenario (Bearish Bias):
As long as the pair remains below 1.3610, further downside is likely. The next support is seen at 1.3520. A confirmed break below this level could accelerate losses toward the next target at 1.3480.
Alternative Scenario:
If the pair breaks above 1.3610 and sustains gains above it, a short-term rebound may occur, targeting 1.3655, with further upside potential toward 1.3690.
Caution:
Risks remain high amid ongoing global trade and geopolitical tensions. All market scenarios remain possible, and traders are advised to exercise proper risk management.
Disclaimer: Trading in CFDs carries inherent risks. The analysis provided herein is not a recommendation to buy or sell, but rather an interpretation of the current price movement on the chart.
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