{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpusd-takes-a-steep-dive\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpusd-takes-a-steep-dive\/","headline":"GBPUSD Takes a Steep Dive","name":"GBPUSD Takes a Steep Dive","description":"It appears that more traders are siding with the bears. This has caused GBPUSD to take a steep dive towards the next technical support level. This seems to have resulted from the dollar gaining considerable strength from market-influencing fundamentals. Key Price Levels: Resistance Levels: 1.2600, 1.2700, and 1.2800 Support Levels: 1.2547, 1.2500, and 1.2400 Bear […]","datePublished":"2024-04-02","dateModified":"2024-04-02","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/10\/pounds.webp","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/10\/pounds.webp","height":643,"width":960},"url":"https:\/\/forexschoolonline.com\/gbpusd-takes-a-steep-dive\/","about":["Forex","FX Technical Analysis","GBP\/USD","Technical Analysis"],"wordCount":305,"keywords":["Forex","gbpusd","Technical Analysis"],"articleBody":"It appears that more traders are siding with the bears. This has caused GBPUSD to take a steep dive towards the next technical support level. This seems to have resulted from the dollar gaining considerable strength from market-influencing fundamentals.Key Price Levels:Resistance Levels: 1.2600, 1.2700, and 1.2800Support Levels: 1.2547, 1.2500, and 1.2400Bear Traders Are Capitalizing on HeadwindsPrice action in the GBPUSD market gained considerable bearish momentum during today’s trading. This has caused the pair to punch its way through the support at Fibonacci Retracement Level 50. The ongoing session has appeared as a long red price candle and has placed the market at the 1.2547 mark below the Guppy Multiple Moving Average (GMMA) lines.Likewise, the Moving Average Convergence Divergence (MACD) indicator lines have crossed below the equilibrium level. Bolstering bearish hopes on the daily market is the appearance of a red bar below the equilibrium level of the MACD. Consequently, this suggests that bearish traders may gather more profit in this market.GBPUSD Bears Maintain a Firm GripWhile moving to a GBPUSD market time frame of 4 hours, one can easily perceive that bearish influences are quite strong and consistent. Following the significant price drop in the previous session, one can see that the minimal upside correction posted by the current session isn\u2019t likely to restrain headwinds.Also, price activity remains below the GMMA lines. Additionally, the MACD lines have regained a downward trajectory below the equilibrium level. In addition, it could be seen that the MACD bar for the ongoing session stays red and happens to appear longer than that of the previous session. This points out that traders might want to still keep using bearish Forex signals as the market looks for support at the 1.2500 mark.Do you want to take your trading to the next level? Join the best platform for that here."}