FX.co ★ Technical review for GBP/USD: a local downward correction may occur

GBP/USD is likely to decline because Treasury yields in the US rose and risk appetite is gradually decreasing. The fall will be more apparent during the European trading session.

Technical picture:

The quote is on the lower line of the Bollinger indicator, below the SMA 5 and SMA 14. The relative strength index (RSI) is below 50% and is moving down, similar to the stochastic indicator.

Possible dynamics:

A decline and consolidation below 1.2585 will prompt a decrease to 1.2520.