Solid ECN
Member
GBP/USD Analysis: Bearish Signals Ahead
Solid ECN—The GBP/USD pair dipped from 1.270, a development in the U.S. price, which was expected because the stochastic oscillator was overbought. Additionally, the technical indicators suggest the bear market should prevail, with the RSI below zero and the price below the Ichimoku Cloud.
From a technical standpoint, the key resistance level is 1.270. The downtrend will likely resume if the price remains below this level. In this scenario, the next bearish target could be at 1.265. Furthermore, if the selling pressure exceeds 1.265, the next bearish barrier will be 1.263.
The key resistance is at 1.270. The bearish outlook should be invalidated if the bulls push the price beyond 1.270.
From a technical standpoint, the key resistance level is 1.270. The downtrend will likely resume if the price remains below this level. In this scenario, the next bearish target could be at 1.265. Furthermore, if the selling pressure exceeds 1.265, the next bearish barrier will be 1.263.
The key resistance is at 1.270. The bearish outlook should be invalidated if the bulls push the price beyond 1.270.