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GBPUSD ANALYSIS

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#GBP/USD# GBPUSD ANALYSIS

GBPUSD trading in downtrend
price rebounded from key level around 1.3000
price below SMA 100
MACD shows start of bearish momentum
RSI in downtrend line below 50
so its expect bearish momentum to demand zone around 1.2440

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Bearish traders might now aim to challenge the 1.2800 mark before dragging the GBP/USD pair back towards multi-week lows support, around the 1.2765-60 region.
GBP/USD witnessed some heavy selling for the second straight session on Monday.

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