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At the time of publication of this article, the GBP/USD pair is traded near the 1.3556 mark, remaining in the bear market zone below the key resistance level 1.3580. Breakdown of support levels 1.3521, 1.3510 may become a trigger for further decline, first to the key support level 1.3395 (EMA200 on the weekly chart), and in case of its breakdown, inside the downward channel on the weekly chart.
In case of breakdown of the key resistance level 1.3580 (EMA200 on the daily chart), the target will be the local resistance level 1.3640 (local highs and the upper limit of the descending channel on the weekly chart).
A breakdown of the local resistance level 1.3745 may again increase the risks of breaking the GBP/USD bearish trend, sending the pair towards the highs of 2021 and the mark of 1.4200.
Support levels: 1.3539, 1.3521, 1.3510, 1.3395, 1.3365, 1.3300, 1.3210, 1.3160, 1.3000, 1.2865, 1.2685
Resistance levels: 1.3580, 1.3640, 1.3700, 1.3745, 1.3832, 1.3900, 1.3970, 1.4000
Trading recommendations
Sell Stop 1.3530. Stop Loss 1.3570. Take-Profit 1.3510, 1.3395, 1.3365, 1.3300, 1.3210, 1.3160, 1.3000, 1.2865, 1.2685
Buy Stop 1.3570. Stop Loss 1.3530. Take-Profit 1.3580, 1.3640, 1.3700, 1.3745, 1.3832, 1.3900, 1.3970, 1.4000
