GBPUSD Analysis – September 26, 2023

GBP/USD has extended its downward movement from 1.2547 to as low as 1.2166.

As long as the trend line resistance holds, there is a possibility of the downside move continuing, with the next target to consider around the 1.2100 area.

Immediate resistance is located at 1.2220. A break above this level could potentially bring the price back towards the trend line.

Traders should closely monitor the price action, paying attention to the trend line resistance and the mentioned support and resistance levels. These levels can provide insights into potential breakouts, reversals, or continuations in the market.