What triggered pound vs dollar latest price pullback

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Pound/dollar slides 0.51% today

Highlights

GBP/USD trades at 1.3494, below the MA-20 (1.3652) and MA-50 (1.3554), signaling persistent short- and medium-term selling pressure.
Key intraday oscillators (RSI at 44.4, Stoch RSI and CCI oversold) show the pair is oversold, yet Bear Power remains negative, confirming seller dominance.
Weekly GBP/USD range expected between $1.3515 and $1.3662; price above resistance at $1.3673 targets a bullish breakout, below $1.3418 turns trend bearish.

Anton Kharitonov, expert at Traders Union, believes GBP/USD is under clear short-term selling pressure. He points out that the price lags below the MA-20 and MA-50 while only barely holding above MA-200 support. Kharitonov notes that momentum indicators are conflicted, with the MACD diverging from broader negative signals. Lack of supporting news flow adds to the uncertainty and questions sustained bullish attempts. He remarks, "Downside risks remain significant for GBP until selling momentum exhausts and key support at 1.3418 is firmly defended."

Viktoras Karapetjanc, expert at Traders Union, sees a constructive backdrop for GBP/USD. He highlights that the bullish structure remains intact above the MA-200, with weekly signals showing over 80% probability for upward movement. Karapetjanc emphasizes that technical oversold signals often precede strong recoveries. He notes that despite the lack of news, the market offers multiple setups for gains if 1.3673 is breached. He says, "Further growth is expected — a breakout above resistance could quickly refuel bullish momentum over the coming week."

Seller control persists as oversold signals meet weak trend strength

Momentum signals are mixed: the daily MACD points to a strong buy, while the ADX indicates weak trend strength and a sell skew. Oscillators reinforce an oversold environment (RSI 44.4, Stoch RSI oversold, CCI deeply oversold), but Bull/Bear Power remains negative, highlighting seller dominance during the session. The pound vs dollar spent the day near its low after slipping 0.51%, reflecting intraday high volatility and continued bearish momentum with oversold signals as losses mount.

Last time, analysts noted that GBP/USD is trading below the short-term moving average and facing near-term selling pressure, though the medium- and long-term trend remains bullish with support near key moving averages and the round $1.3550 level. While the daily MACD signals strong bullish momentum and the ADX points to a mild uptrend, mixed oscillators and intraday weakness reflect uncertainty, highlighting a clash between underlying bullish momentum and emerging oversold conditions.

Source of Data: GBP Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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