Technical Analysis of GBP/USD

GBP/USD is moving in a bearish trend on the four-hour timeframe. Price formed a Fair Value Gap around the 1.3780 level and reversed lower from it, currently trading around the 1.3743 level. Further downside movement is expected during today’s session, supported by the current strength of the US dollar.
Selling pressure remains valid as long as price trades below recent supply zones. The current market structure continues to support the bearish scenario, with no clear reversal signals on lower timeframes.

Major Economic News:
The US dollar is awaiting the release of the Producer Price Index data today, which is expected to have a noticeable impact on the US dollar and currencies.

Liquidity Levels:
Prices are expected to decline targeting the 1.3700 level, followed by the 1.3645 level.

Scenario Invalidation:
The bearish scenario will be invalidated if price visits the 1.3815 level.