FX.co ★ September | GBP/USD

Hello traders! The past trading week for the currency pair GBP/USD ended with a strong decline. At the lowest point, the price had already reached the level of 1.3330, attempting to break below the support at 1.3345 to the south. However, bears have not been able to open another candle below this level yet, although nothing is stopping them from continuing the downward movement from current positions. The target in this case is the round level of 1.3300 at the lows of the pair from May 15 of this year. Even if the GBP/USD price corrects on Monday, I believe it will not rise above the resistance at 1.3375, as indicated in my screenshot, and will later return to decline in the specified direction.

GBP/USD Now we are talking about the study of the trends of prices for the exchange pair GBP/USD. A pullback has been expected on the daily GBP/USD chart for a while, but since the pair hit a high of 1.34100 on September 26, sellers have been in charge. The pair has mostly weakened, albeit with some small changes, with each session starting out lower, showing that selling pressure is greater than buying interest. There was a possible sign of a comeback last Thursday, but the Friday session again dipped into negative territory (albeit by a small amount). Next week could see the expected slowdown and then new selling if enough counter-liquidity can be drawn. The attack on Iran by Israel will have an effect on the market as well, and let's see if the market will be able to handle this event. If the GBP/USD falls after the market starts, the bearish trend could take a break around the volume level of 1.29024, which may hold the top of the safe zone. In this case, the price could drop to the 1.29024 accumulation area, which could provide support. Should a positive signal occur at or below this level along with volume signs, the pair could rise back up to the 1.29844 zone where large amounts are focused. This upward movement could test this barrier and apparent liquidity near the highs. If the liquidity near 1.29844 gets fully absorbed, we may witness a steep drop with prices probably falling beneath the low set at the accumulation level of 1.29844. Such a possible drop is in line with the common market trend of going down, as the removal of cash at the tops suggests room for more selling.