GBP/USD Update: Downward Movement Persists

The GBP/USD pair has seen a continued decline from 1.3044 to a low of 1.2672. As long as the price remains below the falling trend line on the 4-hour chart, further downside movement is likely, with the next target set at around 1.2640.

The initial resistance level to watch is at 1.2750. If the price breaks above this level, it could potentially move back toward the falling trend line. However, only a decisive break above the trend line would signal that the downtrend has come to an end.

Traders should monitor these key levels closely as the GBP/USD pair continues to navigate its downward trajectory.

by ForexInflux