GBP/USD Maintains Bearish Trend Below Key Resistance Levels

Jun 14

Technical Analysis of GBP/USD

The price has stabilized in the bearish zone, remaining below 1.2695. Consequently, the target is set at 1.2628.

• Bearish Scenario:
  As long as the price trades below 1.2695, it is expected to drop to 1.2627. A further decline below this level could see the price reach 1.2572.
  
  
• Bullish Scenario:
  To shift to a bullish trend, the price must reverse and stabilize above 1.2700, potentially targeting 1.2783.
  
  
• Key Levels:
  - Pivot Price: 1.2700
  - Support Levels: 1.2627, 1.2572, 1.2541
  - Resistance Levels: 1.2780, 1.2820, 1.2898
  
  
• Today's Expected Movement Range:
  The price is expected to fluctuate between 1.2693 and 1.2627.
  
  Tendency: Bearish trend
  
  In summary, maintaining a position below 1.2695 supports a bearish outlook, with lower support targets in focus. Conversely, trading above 1.2700 could indicate a bullish reversal, aiming for higher resistance levels.