GBPUSD → Waiting for a decline to 1.2300

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GBPUSD may continue its medium-term decline based on the fundamental background. Traders are waiting for Powell's comments on interest rates. The market is on hold and is set for a negative scenario.



Globally, the currency pair is in a stupor and is in a sideways movement without any clear prospects, trading in a global range between 1.28 - 1.22. On H4 a resistance retest is forming, there are no prerequisites for resistance breakout. Against the backdrop of the strengthening of the dollar index, the pound sterling is losing ground and declining. This decline may continue towards the lower boundary of the trend.

Resistance levels: 1.252, 1.257
Support levels: 1.2422, 1.2300

Technically, we have a bearish trend and weak fundamental background for the currency pair, which generally determines the medium-term prospects for us. We are waiting for a decline to 1.2300

Regards R. Linda!

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Weak reaction to the news.
The fall may continue

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Resistance Retest. Could be a false breakdown

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Currency pair falls amid dollar growth