FX.co ★ GBP/USD analysis for November 27, 2023 - Potential for the downside rotation

Technical analysis:

GBP/USD has been trading upside this morning but I found failure to sustain above the Friday's high at 1.2613, which is good sign for the further downside rotation.

Due to the fake breakout of the Friday's high and the bearish divergence on the RSI, I see potential for the further drop towards lower references.

Downside objectives are set at the price of 1.2580 and 1.2560

RSI oscillator is showing bearish divergence, which is sign for the potential downside rotation and the pullback.

Key resistance is set at the price of 1.2625