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GBP/USD Analysis: Why Bears Still Control Below 1.2450? | Key Levels to Watch This Week

Current Market Positioning

The ltc prediction tomorrowGBP/USD cross shows tentative upward movement near 1.2445 in Thursday's European session, though the broader technical picture continues favoring sellers. The pair's inability to reclaim the 100-day EMA reinforces the prevailing negative bias, while oscillators suggest potential consolidation ahead of crucial US economic releases.

Technical Indicators Breakdown

Daily chart analysis reveals several concerning signals for Sterling bulls. The sustained trading below the 100-period exponential moving average maintains downward pressure, corroborated by the RSI's position near neutral territory. This configuration typically precedes extended ranges rather than decisive breakouts.

Critical Support Zones

  • Immediate floor at 1.2400-1.2390 (psychological level + recent swing low)
  • Subsequent support at 1.2307 (January 22 trough)
  • Longer-term support cluster near 1.2160-1.2125 (January lows + Bollinger Band base)

Potential Resistance Levels

  • Initial ceiling at 1.2570 (Bollinger Band upper boundary)
  • Secondary barrier at 1.2645 (100-day EMA convergence)
  • Major resistance at 1.2778 (December peak)

Fundamental Catalysts Ahead

Market participants await multiple high-impact US data releases that could dictate near-term direction. The advanced Q4 GDP print takes center stage, alongside employment figures and housing market indicators. These releases may either reinforce the dollar's yield advantage or trigger corrective Sterling rebounds.

Trading Strategy Considerations

Range-bound approaches appear prudent given the mixed technical signals. Conservative traders might await confirmation breaks beyond 1.2390 or 1.2570 before establishing directional exposure. The pair's sensitivity to risk sentiment and interest rate differentials warrants close monitoring of broader market dynamics.

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