Detailed FX Market Outlook and Analysis

GBP/USD Daily Analysis

GBP/USD is continuing on the lower side and is currently trading at 1.3343. The intraday support levels are at 1.3318 and 1.3278. The near-term resistance levels are at 1.3361 and 1.3389.

On the intraday charts, the pair is now keeping below the significant support levels and the downside is likely to extend well below the 1.3300 mark. The SMA-14 resistance line is at 1.3424 while the SMA-50 is indicating resistance at .13588. The RSI is at 36 and the MACD is below the middle-line and indicates a further bearish trajectory. The intraday price pattern is strongly bearish and favors selling entries around 1.3360 with a target of 1.3315 and a stop-loss at 1.3390.

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