GBP/USD is trading at $1.28213, down 0.37%, as the pair remains pressured below the pivot at $1.28463. This level, which recently acted as a breakout point, now serves as a key pivot; staying below it could keep the pair in a bearish trend.

Immediate support sits at $1.27916, with further levels at $1.27509 and $1.27210 if sellers maintain control. Resistance is seen at $1.28856 and $1.29249, with the 50-day EMA at $1.29079 reinforcing the bearish outlook.

Until GBP/USD clears $1.28463, we’re likely to see cautious trading with a downward bias.

Euro Steady with German ZEW Sentiment Above Forecast

The Euro (EUR) held steady as Germany’s Final CPI m/m met expectations at 0.4%, showing stable inflation in the region. The German ZEW Economic Sentiment index also slightly exceeded forecasts, reaching 13.2, up from the previous 13.1.

Meanwhile, the broader ZEW Economic Sentiment for the Eurozone rose to 20.5, surpassing the expected 20.1. This mild improvement in sentiment supports the euro, though broader economic challenges persist in the region.

EUR/USD Technical Forecast