The GBP/USD pair shows a dominant bearish bias, falling into a descending channel pattern and potentially testing the nine-month low of 1.2321. Technical indicators like the RSI and EMAs support this bearish outlook. Immediate resistance lies at the channel's upper boundary near the nine-day EMA. A break below 1.2299 could intensify the downward pressure.
GBP/USD has retreated into the descending channel pattern, signaling a dominant bearish bias . The pair could test the nine-month low at 1.2321, recorded on Wednesday. The immediate resistance appears at the descending channel 's upper boundary, near the nine-day EMA at 1.2449. The GBP/USD pair remains under pressure for the third consecutive session, hovering near 1.2360 during Thursday's Asian trading hours.
On the upside, the GBP/USD pair may encounter immediate resistance at the descending channel's upper boundary, near the nine-day EMA at 1.2449, followed by the 14-day EMA at 1.2482. A decisive breakout above this critical resistance zone could enhance short-term price momentum, paving the way for a potential move toward the two-month high of 1.2811, reached on December 6.
GBP/USD Forex Technical Analysis Bearish Bias Descending Channel Resistance Support
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD Shows Signs of Weakening Bearish BiasGBP/USD is trading around 1.2550, positioned above the descending channel, suggesting a weakening bearish bias. While the RSI remains below 50, a decisive break above the 9- and 14-day EMAs could indicate a shift to bullish momentum. Support is near 1.2540, with resistance at 1.2565 and potential upside targets at 1.2585 and 1.2811. A break below 1.2540 could reinforce the bearish bias, potentially driving the pair towards its yearly low.
Read more »
GBP/USD Price Forecast: The bearish outlook remains in place below 1.2550The GBP/USD pair posts modest gains to near 1.2520 during the early European session on Friday.
Read more »
GBP/USD Retreats Amid Strong US DollarThe GBP/USD pair weakens as the US dollar strengthens near a two-year high, driven by the Fed's hawkish stance, trade war concerns, and geopolitical risks.
Read more »
GBP/USD retreats below 1.2500 on strong US Services PMI, JOLTS dataThe Pound Sterling rose to a new four-day peak of 1.2575 on Tuesday after posting its biggest gain in the last three days.
Read more »
GBP/USD Price Prediction: Bearish Pressure Persists Despite Weakening TrendThe GBP/USD pair hovers around 1.2480, showing signs of a weakening bearish trend but with continued pressure below key moving averages. The pair faces resistance at its nine-day EMA and the 14-day EMA, while support levels lie at 1.2299 and 1.2560.
Read more »
GBP/USD Price Forecast: Retreats below 1.2750 amid strong US DollarThe Pound Sterling tumbled after failing to clear the 1.2800 figure for the third consecutive day, trading at 1.2720, down over 0.17% daily.
Read more »