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GBP/USD chart on the hourly time frame

The GBP/USD price traded with noticeable negativity yesterday, succeeding in breaking the 1.2655 level and stabilizing below it, reinforcing expectations of a continuation of the downward trend in the short and immediate term, targeting a test of the 1.2566 level initially, noting that breaking this level will push the price to continue declining and achieve negative targets extending to the 1.2400 areas.

Stabilization below 1.2655 represents the first condition for the continuation of the expected decline, as breaking it may push the price to test the areas between 1.2705 and 1.2735 before any new negative attempt.

EUR/USD chart on the hourly time frame

EUR/USD was able to touch our first target at 1.0475 and stabilize near it, waiting for a negative incentive that will push the price to break this level to confirm the continuation of the expected downward trend in the short term, reminding that the next target reaches 1.0400.

Therefore, the downward trend scenario will remain likely in the coming period, reminding that breaking 1.0563 will lead the price to achieve new gains and target the 1.0635 level.