Selling Pressure Persists: MA and MACD Drive GBPUSD Toward Deeper Decline

The GBPUSD pair continues to face significant selling pressure. Currently, prices are consistently trading below the 24-period Moving Average (MA), reflecting that the bearish trend remains influential. Furthermore, the MACD indicator has presented clear bearish signals, with the MACD line situated below the signal line and a negative histogram that is widening.

This technical setup suggests the possibility for GBPUSD to extend its decline towards the next support level.

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In line with the hourly chart analysis above, the 15-minute chart also indicates potential downward movement as prices are positioned within a bearish channel. The MACD indicator is currently in the negative territory, suggesting further downward momentum. GBPUSD could decline toward the support level of 1.20425.

Technical Reference: Sell while below 1.22025
Potential Stop Loss 1: 1.21680
Potential Stop Loss 2: 1.22025
Potential Take Profit 1: 1.20700
Potential Take Profit 2: 1.2042