GBPUSD: Bearish Momentum Persists Amid Weak Fundamentals ? FX:GBPUSD continues to show weakness both technically and fundamentally. The price action has shifted clearly from the previous upward channel to a clear downward structure, and sellers are still in control.
From a technical perspective, the pair has failed to hold above key resistance levels and continues to respect the descending trendline. Each retest of the upper boundary has been met with rejection. With this structure intact, the path of least resistance remains downward, targeting the next support level.
On the fundamental side, the US dollar is recovering, while the British pound faces pressure as UK economic indicators, including growth and inflation, point to a downturn. As long as these conditions persist, GBPUSD is unlikely to make a significant recovery.
Unless the descending trendline is broken with conviction, the bearish trend remains dominant, with further declines likely toward lower support zones.
