GBPUSD Shows Renewed Downside Pressure Amid Weak Technical Structure

Market Analysis – October 13

GBPUSD shows renewed downside pressure amid a weak technical structure. The pair continues to exhibit persistent bearish momentum, with market sentiment favoring a sustained decline as indicated by short-term moving averages and momentum oscillators. The 9-day Simple Moving Average (SMA) has slipped below recent price action, confirming ongoing selling dominance. Meanwhile, the MACD histogram remains in negative territory, underscoring that bearish volume still outweighs buying strength. Together, these signals reflect a market landscape governed by sellers, with minimal indications of a near-term recovery.

GBPUSD Key Levels

Supply Levels: $1.3630, $1.3800, $1.4000
Demand Levels: $1.3330, $1.3050, $1.2710

GBPUSD Long-Term Trend: Bearish

From a broader technical perspective, price action confirms a rejection from the order block near $1.36320, reaffirming it as a significant supply zone. The pair has since broken below minor support around $1.33940 and is now retesting that level as resistance, presenting a textbook bearish continuation setup. The positioning of the SMA above the current price also reinforces this outlook, suggesting that the pair is consolidating before another downward push. The prevailing structure—marked by lower highs and lower lows—validates the persistence of the overall bearish trend.

Looking ahead, GBPUSD is expected to extend its descent toward the next key support around $1.30480. A clean break beneath this zone could expose deeper downside targets near $1.27140, where stronger buying interest may begin to surface. Any corrective rallies toward $1.33600 or $1.33940 are likely to attract renewed selling pressure, keeping the medium-term bias tilted firmly to the downside. Traders observing forex signals may find this structure useful for anticipating potential continuation phases within the broader downtrend.

GBPUSD Short-Term Trend: Bearish

In the short term, GBPUSD maintains a bearish configuration on the four-hour chart, with price trading below the 9-period SMA and confirming sustained downward momentum. The recent order block near $1.34200 acted as a supply zone, triggering a rejection that further amplified bearish sentiment.

The break of structure around $1.33320 reinforces the dominance of sellers, aligning with weak MACD momentum remaining below the zero line. Should price continue to hold beneath the $1.33300 level, further declines toward the $1.31500 region appear likely.

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