GBPUSD is looking bearish 📉. The price is below all the major SMAs, and the RSI is oversold, but that doesn't always mean a reversal is coming. I'm watching for a break below S2 at 1.34812 to confirm further downside. A close below that level could open the door to lower targets. 🤔
Update: It looks like GBPUSD is struggling to break below 1.34855 (S1). If it bounces from here, we might see a short-term correction towards the 1.3520 area (20 SMA). I'll be watching the price action closely around that level. A break above 1.3520 would weaken my bearish bias. 🙏
