The opening price is below the 1.4250 pivot indicating the downtrend.
Support Level: 1.4205, 1.4174, 1.4129.
Resistance Level: 1.4281, 1.4326, 1.4357.
The MACD histogram is above the zero level.
Parabolic SAR indicator (step 0.02, max 0.2) indicates the price is heading down.
Trading recommendations: Sell.
TP: On the support level: 1.4205, 1.4174, 1.4129.
SL: One level above the entry point.
The pound lost positions against the dollar on Wednesday. Thus the British currency completely deleted the profit recorded in the previous session and the pair tested support at 1.3917. Short-term expectations remain in favor of the dollar. Trade was open at 1.3975, and the final was 1.3927. The trend was of bearish character, and bottom of the day was hit at 1.3923.
The British pound recorded a modest decline against the US dollar on Wednesday. The currency pair opened at 1.3613 and the price bounced from the first resistance at 1.3655. Eventually, the pound ended at 1.3571 and if the price went down, there could be a first support test at 1.3460.
Further bad news for gbp usd, i can only see a further decline, possibly investors and traders waiting for usd news today, before they put all their positions on.
The British pound fell only slightly against the US dollar on Wednesday. The currency pair opened at 1.3546 and ended at 1.3545. The pound during the US session reached a peak of 6 days to 1.3606, after which the price dropped to 1.3540. In case the downward movement persists, the pair will focus on support at 1.3458.
The pound fell against the dollar on Tuesday. The British currency did not meet the positive expectations and lost positions. So the pair broke the first support at 1.3458, but the final was placed above these levels. The session was opened at 1.3555, and the bearish moods dominated from the start. The bottom of the day was hit at 1.3450 and the closing price was 53 pips higher.
The British pound fell against the US dollar on Tuesday. The currency pair opened at 1.3307 and ended at 1.3249. The pound in the early hours of European trade fell sharply, breaking the level of support at 1.3300, reaching bottom for the day of 1.3204. In the event of a resistance break at 1.3300, we would expect a test at a level of 1.3456.
The British pound recorded a modest rise against the US dollar on Wednesday. The session started at 1.3189 and the price managed to break the first resistance at 1.3200. Eventually, the pair ended at 1.3225 and if the bullish trend continues, we can expect an attempt to break the next resistance at 1.3300.
GBPUSD technical and fundamental analysis
