Detailed FX Market Outlook and Analysis

GBP/USD Daily Analysis

GBP/USD is continuing on the lower path following Friday’s decline. The pair is currently trading at 1.3648 with immediate support levels at 1.3622 and 1.3605. The intraday resistance levels are at 1.3679 and 1.3714.

On the intraday charts, the pair is now keeping below the moving averages. The SMA-14 is at 1.3732 and the SMA-50 resistance line is at 1.37060. The RSI is gone down to 45 and the MACD is also below the zero line and favors the bears. Following the intraday price pattern and analyzing the momentum indicators the pair is ideal for sell entries near 1.3670 with a target of 1.3625 and a stop-loss at 1.3810.

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