The pound continues to trade under pressure as sellers maintain control, with the pair currently holding below 1.2350 key resistance. Momentum remains tilted to the downside, favoring a move toward the 1.2200 support zone.
🔹 Technical Analysis
• Clear lower-high structure confirms bearish trend continuation.
• Price rejected 1.2350–1.2380, reinforcing supply in that region.
• As long as the pair remains below 1.2300, sellers are likely to drive price toward 1.2200, with potential extension into 1.2150 if momentum accelerates.
🔹 Fundamental Outlook
• UK economy remains fragile, with sluggish growth and ongoing concerns over consumer confidence weighing on the pound.
• The U.S. Dollar is supported by safe-haven flows and expectations of a resilient U.S. labor market, despite growing bets of a Fed rate cut later this year.
• Investors await key U.S. data this week, which could add volatility and determine whether GBP/USD can stabilize above 1.2200 or extend losses further.
⚡ ShadowTraderFX Insight: While short-term momentum favors the bears, traders should closely monitor upcoming U.S. economic releases as potential catalysts for trend confirmation.
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