Technical Analysis of GBP/USD
The GBP/USD pair is moving in a bearish trend on the four-hour timeframe. Price has formed an Order Block (OB) around the 1.3650 level, which is considered an important selling zone for the pair. Despite interest rates being held around 3.75%, the pair is still expected to continue its downward movement during the day.
Additionally, bearish rejection candles are appearing near supply zones, reinforcing the continuation of the bearish scenario. Moreover, price is trading below its moving averages, supporting sellers’ control in the current period.

Key Economic News
The US dollar is awaiting unemployment claims data, job data, and labor turnover figures today. We should also consider the European interest rate decision, along with a speech by Christine Lagarde, President of the European Central Bank, which may impact the euro. Movements in both the US dollar and the euro will also affect the GBP/USD pair.

Prices are expected to decline, targeting 1.3400, followed by 1.3340 levels.

Scenario Invalidation:
The bearish scenario will be invalidated if price reaches 1.3706.