GBP/USD Technical Breakdown

The GBP/USD pair is moving within a downtrend on the 1‑hour and 4‑hour charts. Prices are currently trading around 1.3485, which represents an Order Block (OB) on the 1‑hour timeframe, where a bearish bounce is expected, continuing the current downtrend driven by USD strength.

Key Economic News

Markets are awaiting several major economic releases this week that could directly impact the US Dollar, starting with the US Consumer Price Index (CPI), a key driver of FX markets due to implications for Fed policy. Also on the calendar are monthly Producer Price Index (PPI) figures and weekly unemployment claims, expected to have a moderate market impact given current USD sensitivity to growth and policy changes. Meanwhile, Bank of England Governor Andrew Bailey will deliver a critical speech likely to shift rate expectations for GBP, especially when combined with upcoming UK CPI data that could sway markets.

Liquidity Levels

Today, the bearish scenario targets support at 1.3450, followed by 1.3417, assuming the decline continues. The invalidation point for the downtrend is set at 1.3530; if price closes above this level, the bearish outlook will be rejected.