FX.co ★ dusty24 | GBP/USD

On the H1 timeframe, it is evident that sellers are stronger than buyers in the GBP/USD currency pair, significant lows are decreasing, and the 120-period moving average is above the price, indicating the sellers' strength over the buyers. Due to the descending structure and the ZigZag indicator showing decreasing significant lows, it confirms a downward movement. A confirmation of the downward trend is the hourly candle closing below the moving average at the level of 1.3490. It is preferable to consider selling rather than buying during the day. I plan to sell from the resistance level at 1.3510, with the first take profit at 1.3470, and the subsequent target at the level of 1.3430, setting the stop loss at 1.3540. To consider buying, the pair needs to consolidate above the price level of 1.3570. We set the take profit at 1.3610 for buys, with a stop loss at 1.3540.

Let's analyze the fifteen-minute chart to confirm the southern direction.