GBP/USD Faces Risk of Decline
GBP/USD is trading around 1.2537, with a bearish bias prevailing. The strong resistance zone at 1.2547 - 1.2550, reinforced by the EMA 34 (1.2535) and EMA 89 (1.2573), is limiting upward momentum. Conversely, the support at 1.2504 - 1.2500 remains a critical level; a break below this could push the price towards 1.2460.
The bearish pressure is driven by weak UK economic data and the strength of the US Dollar. If the price surpasses 1.2550, the next target could be 1.2580, though this scenario appears unlikely. Traders should closely monitor end-of-year market movements to make well-informed decisions.
The bearish pressure is driven by weak UK economic data and the strength of the US Dollar. If the price surpasses 1.2550, the next target could be 1.2580, though this scenario appears unlikely. Traders should closely monitor end-of-year market movements to make well-informed decisions.
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