GBPUSD Sweeps Swing Lows Amid Bearish Pressure

Market Analysis – November 26

GBPUSD has broken below the 1.26110 support level and is now targeting the next demand zone. A retest of the breached level attracted more sellers, reinforcing the bearish momentum.

GBPUSD Key Levels

Demand: 1.28680, 1.26110, 1.23210
Supply: 1.30450, 1.34080, 1.36000

GBPUSD Long-Term Trend: Bearish

GBPUSD buyers initially defended the 1.28680 support level, leveraging a bullish order block and trendline for added confluence. Despite these efforts, sellers eventually gained control after several price bounces at this level. The Smoothed Heikin Ashi candles remained red, filtering out noise and confirming the prevailing downtrend.

Following the breakout, sellers lost momentum upon reaching the 1.26110 support level, prompting a brief pullback marked by a reverse hammer pattern. However, selling pressure resumed, driving the price decisively below 1.26110.

GBPUSD Short-Term Trend

The former support level at 1.26110 has now flipped to resistance, further intensifying selling pressure. As a result, the price continues to slide toward the 1.23210 demand zone. On the daily chart, sellers remain firmly in control, with market participants closely monitoring forex signals for further insights into potential movements.

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