GBPUSD Swingers!

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Let's keep it simple.

A reversal is often needed for the trend to keep going. But, it's not a sure thing. However, the odds are in our favor. If not, the trend might break, leading to a new one.

So, who's ready to catch the next big wave? Let's wait for the setup to form. Don't rush. Let the price action tell us what to do. It's that easy!

PS: THERE IS NO LONG CONFIRMATION RECEIVED YET.
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GBPUSD Current analysis and trends for GBPUSD:

Current Market Overview:
Current Price: Approximately 1.2617, trading near a critical support zone at 1.26.
Trend: GBP/USD is experiencing bearish momentum. Key resistance is at 1.2907, with support at 1.2746 and 1.2800​- INVESTING.COM, FX LEADERS

Technical Indicators:

Daily Chart:
The pair is consolidating between a support zone at 1.26 and resistance at 1.28. Price action suggests potential for range trading​ - FOREXLIVE
Indicators like RSI (14) are near oversold levels, signaling a potential rebound or consolidation near the lower range​ -FX LEADERS , TRADINGVIEW

4-Hour Chart:
Price remains range-bound, showing resistance at 1.28 and support near 1.26. Short-term traders might consider selling near resistance and buying at support if the range holds​ -FOREXLIVE

Moving Averages:

The 50-day and 200-day moving averages indicate bearish momentum, with the price currently below these levels​ - FX LEADERS,TRADINGVIEW

Key Fundamental Factors:
UK Side: Weak economic data (e.g., retail sales and PMI) and expectations of BoE rate cuts in 2024 are weighing on the Pound​- FX LEADERS,FOREXLIVE
**US Side:** Hawkish Fed sentiment is lending strength to the Dollar, especially as markets anticipate delayed rate cuts​- FOREXLIVE

Outlook:

GBP Sentiment:

- The British Pound is weighed down by weak data and rising odds of a Bank of England rate cut in 2024
- Market participants remain cautious about inflation easing further, impacting rate-cut expectations

*USD Sentiment:

- A firm US labor market and consistent inflation figures continue to support the Dollar, with additional focus on upcoming US retail sales data
Beyond Technical AnalysisForexFundamental AnalysisGBPUSDswingtradingTechnical AnalysisTrend Analysis

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