FX.co - GBP/USD analysis for July 25, 2023

2023-07-25T12:58:51

Relevance until2023-07-26

Technical analysis:

GBP/USD analysis for July 25, 2023 - Sellers in control

GBP/USD has been trading sideways downside at the price of $1.2800 and I see potential for the further downside movement. Sellers are in control

Due to the short-term downside trend and no aggressive buyers, I see potential for the further drop towards lower references.

Downside objective is set at the price of 1.2693

Stochastic oscillator is showing downside flip, which is good sign for the further downside movement.

Resistance is set at the price of 1.2890

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ GBP/USD analysis for July 25, 2023 - Sellers in control