GBPUSD Eyes Further Downside Amid Strong Resistance
GBPUSD is currently facing downward pressure, trading near resistance zones around 1.27796 and 1.28758. Recent price action has shown a struggle to gain upward momentum, with sellers stepping in around these resistance areas. This setup suggests a potential continuation of the bearish trend, especially if the pair fails to break above the highlighted resistance levels.
Technically, GBPUSD is forming a descending pattern, indicating that sellers may remain in control. If the price cannot sustain any upward push, it may target lower levels, with possible support around 1.26817. Should this support give way, the next target could extend towards 1.25500 or lower.
Technically, GBPUSD is forming a descending pattern, indicating that sellers may remain in control. If the price cannot sustain any upward push, it may target lower levels, with possible support around 1.26817. Should this support give way, the next target could extend towards 1.25500 or lower.
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