📉 GBP/USD Struggles to Maintain Momentum
The British Pound (GBP) is attempting another rebound against the US Dollar (USD), but technical resistance remains firm. After a brief upside move, GBP/USD is facing selling pressure near key levels, raising concerns about the sustainability of the rally.
📊 Key Resistance and Support Levels
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Resistance: 1.2700 – 1.2730 (Major technical ceiling)
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Support: 1.2580 – 1.2600 (Critical demand zone)
Despite the initial bullish attempt, the pair needs a decisive break above 1.2730 to confirm further upside potential. Otherwise, sellers might regain control, pushing GBP/USD back toward 1.2600 or lower.
🔥 Market Drivers Impacting GBP/USD
1️⃣ US Dollar Strength – The greenback remains firm amid Fed rate expectations.
2️⃣ UK Economic Data – Recent macro data is adding uncertainty to the Pound’s outlook.
3️⃣ Geopolitical Risks – Global market sentiment is influencing risk appetite.
💡 What’s Next for GBP/USD?
Traders are closely watching the upcoming US economic releases and BoE statements. If the Pound fails to break above resistance, another downside move could be on the horizon.
📢 Do you think GBP/USD will break the resistance or drop lower? Share your thoughts in the comments!
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