GBP to USD Forecast

The GBP/USD pair experienced a slight pullback last Friday, closing at 1.2570. Despite this recovery, the pair hasn't shown any strong bullish signals and remains below both the 50 EMA and 200 EMA, indicating that bearish sentiment still dominates. Key Levels to Watch Resistance Levels: 1.2660, 1.2750 Support Levels: 1.2470 In the upcoming sessions, the GBP/USD pair is expected to continue its downtrend. Any upward correction may attract sellers, as the overall market sentiment remains bearish. The next downside target is near the 1.2470 support level, which could be a key zone for potential price action. Factors Influencing GBP/USD Movement…

The GBP/USD pair closed last Friday at 1.2717, continuing its bearish momentum. Despite attempts to rally and test the 200 EMA on the 4-hour chart, these attempts were unsuccessful. The price eventually turned bearish, falling from the 1.2800 level and moving toward 1.2600. Technical Analysis Currently, the key resistance levels are at 1.2700 and 1.2760, which are limiting any potential upward movement. On the downside, immediate support is found at 1.2600, with a broader target at 1.2530 if the downtrend persists. The rejection from the 200 EMA on the 4-hour chart underscores the overall bearish sentiment. Additionally, the moving averages…

The GBP/USD pair recently pulled back from the 1.2810 level and is now trading near a crucial zone around 1.2760. On the 4-hour chart, the price is between the 200 EMA and the 50 EMA, with both moving averages converging. This suggests a potential for significant price movement soon. Key Technical Levels: Resistance: The 1.2835 level is a strong resistance, preventing any upward movement at the moment. Support Levels: 1.2670: If selling pressure increases, the next key support target is 1.2670. 1.2570: A further decline could push the pair towards 1.2570. Economic Outlook for December 11, 2024: Important economic releases…

On Friday, GBPUSD tested the 1.2820 resistance level but faced rejection, dropping back to 1.2740. The 200 EMA continues to act as dynamic resistance, reinforcing the bearish sentiment. Short-term resistance levels are at 1.2820 and 1.2950, while immediate support is seen at 1.2660, followed by 1.2570. Technical Overview GBPUSD remains under bearish pressure, struggling to break above the 200 EMA. If the pair fails to recover above 1.2820, sellers may target the 1.2660 support level in the upcoming sessions. A break below 1.2660 could lead to further declines toward 1.2570. However, if the bulls regain momentum, the price could move…