Current Technical Dynamics
The technical picture for GBP/USD remains bearish. Bollinger Bands are turning lower, the MACD histogram is expanding in negative territory, and Stochastic sits in oversold territory—raising the prospect of a limited, short-term bounce but favoring continued selling pressure.
If bulls reclaim the middle Bollinger Band at 1.3428 (Murray [4/8]), the pair may stage a rebound back into the upward channel, targeting 1.3550 (Murray [6/8]), 1.3672 (Murray [8/8]), and 1.3794 (Murray [+2/8]). However, current momentum favors further downside as sellers remain in control.
Support and Resistance Levels
Resistance: 1.3428, 1.3550, 1.3672, 1.3794
Support: 1.3184, 1.2975, 1.2785

Trading Scenarios
Main Scenario (SELL):
- Entry: Below 1.3184
- Targets: 1.2975, 1.2785
- Stop-Loss: 1.3300
- Timeframe: 5–7 days
Alternative Scenario (BUY STOP):
- Entry: Above 1.3428
- Targets: 1.3550, 1.3672, 1.3794
- Stop-Loss: 1.3330
Key levels: 1.2785, 1.2975, 1.3184, 1.3428, 1.3550, 1.3672, 1.3794
Conclusion
GBP/USD remains under pressure as technical signals reinforce the downside. Only a clear break above 1.3428 would shift the outlook back to bullish in the short term. For now, sellers maintain the upper hand.