The GBPUSD continues to move lower, extending its decline and breaking further away from the 38.2% retracement level of the rise from the January low to the July 2025 high, which comes in at 1.31422. The pair has now fallen to a new session low near 1.3018, putting the psychological 1.3000 level firmly in sight. A move below that key level would expose the next swing area between 1.29706 and 1.2988, and a sustained break there would shift focus toward the 50% midpoint of the 2025 trading range at 1.29433.
From a technical perspective, sellers remain firmly in control. The pair has broken below several important moving averages — including the 100-day and 200-day MAs, as well as the 100- and 200-bar MAs on the 4-hour chart — signaling that the broader bias has clearly tilted to the downside. The drop below the 38.2% retracement earlier this week confirmed the continuation of that bearish momentum. For traders, the 1.2943–1.3000 zone now stands out as a critical support region. A decisive move below it would further strengthen the bearish bias and keep the sellers in control.
