GBP/USD: Bearish Trend Holds Firm

GBP/USD is currently trading near 1.2577 after recovering slightly from a dip to 1.2500 earlier in the day. On the 4-hour chart, the pair remains constrained by strong resistance at 1.2608, a level reinforced by the EMA 34 at 1.2559 and the EMA 89 at 1.2613. Despite the recovery, the overall bearish trend remains intact, with downside risks persisting. Key support is observed at 1.2500, and a break below this level could pave the way for a deeper decline toward 1.2417 or lower. Thin trading volumes due to the holiday period continue to dampen upward momentum, adding to the cautious sentiment in the market. Traders should closely watch for selling opportunities near resistance zones and keep an eye on US economic data releases, which could provide clearer direction for the pair’s next move.
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