FX.co ★ GBP/USD analysis for September 15, 2023 - Potential for the further downside movement

Technical analysis:

GBP/USD has been trading this morning but I found key resistance at the price of 1.2450 and potential for the downside continuation..

Due to the breakout of the sideways range in the background and downside short-term downside trend, I see potential for the further drop towards lower references.

Downside objectives are set at the price of 1.2400 and 1.2315

RSI oscillator is showing hidden bearish divergence in creation, which is sign that we might see further downside movement.

Key resistance is set at the price of 1.2450