GBPUSD Poised for Significant Decline

Market Analysis – October 22

The GBPUSD pair has undergone a notable bearish movement, breaking decisively below the 1.30030 swing low. This critical level’s breach paves the way for further declines, as inefficiencies in the underlying market structure act as strong price magnets, drawing the price lower.

GBPUSD Key Levels

Demand Levels: 1.30890, 1.27940, 1.25940
Supply Levels: 1.33120, 1.35000, 1.40000

GBPUSD Long-term Trend: Bearish

GBPUSD has faced substantial bearish pressure, starting with a rejection at the supply zone near 1.33120. The Elder Ray Bull and Bear Power indicator underscores the clear dominance of sellers during this period, signaling a continuation of the downtrend.

The recent break of the 1.30890 demand level has reinforced the bearish outlook, in line with the Machine Learning Lorentizan Classification indicator’s earlier sell signal. This confirmed breach strengthens the expectation of further downward movement as sellers continue to gain momentum.

GBPUSD Short-term Trend: Bearish

On shorter timeframes, GBPUSD has been steadily declining, with the price cutting through key levels with a consistent bearish trend. The downward motion slowed within the support zone, creating a gentler slope compared to the steep decline seen before reaching the supply zone. The next critical target is the bullish order block around 1.27940, which may offer temporary support or a brief pause as the pair approaches this zone. Traders are closely watching the forex signals as the bearish outlook persists.

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