GBP/USD Price Analysis: Bears are licking their lips, significant correction could be on on the cards

Market news

14 July 2023

GBP/USD Price Analysis: Bears are licking their lips, significant correction could be on on the cards

GBP/USD is tiring in the bid and bears are moving in for the kill.
The week ahead holds a bearish bias, but there ios work to do.

GBP/USD ramped up a sixth consecutive day of gains after data showed the UK economy swung in the red by less than expected. the following shows the bias from the top-down analysis:

GBP/USD moving in on the lower time frames

A correction is underway for the week ahead.

GBPUSD H1 chart

Bears are monitoring for a break of trendline support. 1.3000 is eyed!

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GBP/JPY rises past 181.50, threatening the 20-day SMA

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