DECLINE IN GBPUSD

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The GBP/USD pair's continued downward movement suggests bearish momentum in the market. If 1.2200 is the sell target, it aligns with a bearish outlook. Here's an analysis:

Key Levels:

Resistance Levels: Look for resistance near 1.2300 or recent highs.

Support Levels: 1.2200 is the immediate target, with further downside potential near 1.2150 or 1.2100 if the trend persists.


Indicators to Watch:

RSI: If oversold, a retracement or consolidation might occur.

Moving Averages: A cross of shorter-term averages below longer-term ones confirms bearish momentum.

Fundamental Drivers: Keep an eye on economic data (e.g., US CPI, UK GDP) or geopolitical factors that could impact the pair.


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