GBPUSD breaks key support zones as sellers regain control

GBPUSD is pressing to new lows, breaking through a series of key technical levels that had previously offered support:

• The 200-bar moving average (4-hour chart) was broken at 1.2855

• The 200-day moving average gave way at 1.28124

• The 38.2% retracement of the January–March 2025 rally was broken at 1.27841

These breaks come after Friday’s sharp rally was fully erased, signaling that sellers are wresting back control.

On the downside, the next target comes in at 1.27187, followed by the 50% retracement of the 2025 range at 1.26536, and then the 100-day moving average at 1.26297.

To shift sentiment, buyers would need to reclaim the 200-day moving average, signaling that the break lower may have failed. Until then, the path of least resistance remains to the downside.