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2025-07-31 20:30:27
GBP/USD Technical Analysis: The current daily candlestick chart for GBP/USD shows a clear downward trend. The exchange rate has fallen for six consecutive trading days, forming a six-day losing streak, reflecting bearish sentiment and a lack of effective bullish resistance in the short term. The price has fallen below the middle Bollinger Band (1.3516) and is trading close to the lower Bollinger Band (1.3223). The intraday low reached 1.3209, just shy of the key support level of 1.3100, further deteriorating the technical outlook. The 1.3100 level represents medium-term support. Analysts believe a break below this level could open the way for a move to the 1.3000 level or even the previous low of 1.2708. From a technical perspective, the current market trend forms the right shoulder of a head-and-shoulders pattern originating from the 1.3788 high, confirming a typical reversal pattern. The MACD indicator shows that the DIFF and DEA lines continue to weaken and are below the zero axis, while the histogram remains green, indicating no signs of abating the bearish trend. The RSI (14-day moving average) is at 31.51, approaching oversold territory. While there is room for a short-term technical rebound, the trend remains downward. Overall, the GBP/USD pair is currently in a downtrend, with the Bollinger Bands widening and the K-line trading close to the lower band. The technical structure is bearish. A break below 1.3100 could trigger another round of accelerated decline.
