GBPUSD Faces Bearish Pressure: MA and Stochastic Oversold Indicate Potential Decline

The GBPUSD currency pair is showing signs of potential decline, as indicated by key technical indicators. A bearish Moving Average (MA) suggests that further downward trends may follow.

Additionally, the Stochastic indicator currently in an oversold condition adds further pressure to this currency pair. Typically, an oversold condition can lead to either a reversal or a continuation of the decline, signaling that GBPUSD may weaken in the short term.

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Following the analysis of the hourly chart, on the 15-minute chart, GBPUSD also presents bearish opportunities as the price is situated within a bearish trend line, indicating potential further downward momentum. There is a possibility for GBPUSD to drop to the support level of 1.24975.

Technical Reference: sell below 1.25510
Potential Stop Loss 1: 1.25510
Potential Stop Loss 2: 1.25600
Potential Take Profit 1: 1.25090
Potential Take Profit 2: 1.24975