GBP/USD has experienced a significant bearish decline after failing to sustain its previous bullish momentum.
On the fundamental side, several factors may be contributing to the weakness in GBP/USD. Strong U.S. economic data such as employment reports, inflation figures, retail sales, or GDP growth can increase demand for the U.S. Dollar. At the same time, if investors expect the Federal Reserve to maintain higher interest rates for longer, the Dollar often strengthens further. Conversely, weaker economic data from the United Kingdom, slowing growth expectations, or cautious comments from the Bank of England can reduce demand for the British Pound and add additional downside pressure to the pair.
Resistance ; 1.32500 / 1.33000
Support ; 1.31600 / 1.31000
If Price short-term pullback is possible, but unless buyers reclaim the broken structure, the path of least resistance remains to the downside, with potential targets around 1.3165 and 1.3110.
You may find more details in the chart,
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