GBPUSD OPPORTUNITY THIS WEEK

Market Overview Bearish Sentiment Continues

The GBP/USD pair remains under a bearish outlook, according to the latest technical analysis. Since the start of the year, the market has followed a downtrend, with price retracing to key levels that failed to hold. The ongoing structural shift suggests that after every rally or drop, a retracement occurs before the trend resumes its original direction.

Key Price Levels and Market Structure

The current GBP/USD price is at 1.21361, a significant level to watch. The 1.26082 level was previously identified as a strong rejection zone, reinforcing the current bearish bias. If price fails to find support, a further drop toward 1.18040 is possible, aligning with the weekly timeframe target.

Potential Swing Movement Sell Bias Dominates

With the market reopening on Monday, February 17, 2025, traders should avoid rushing into early sell positions. Instead, the Asian session presents a better opportunity to assess price action before considering short entries. The London session is expected to see a continuation of the selling trend, making it a key timeframe to watch.

Trade Considerations for the Week

 Primary Target: 1.21361 Key price level to monitor for rejection or continuation.

 Major Support: 1.18040 If price fails to hold above 1.21361, further downside is expected.

Optimal Entry Timing: Asian and London sessions Look for selling opportunities based on trend confirmation.

With a strong bearish bias in play, traders should remain cautious and wait for confirmations before entering the market. Stay updated with technical insights to navigate the upcoming price movements effectively.