GBPUSD falls on Monday but bounces off a key downside target., ...Middle East

The GBP/USD moved lower on Monday after peaking near a swing area around 1.27159, where sellers emerged to cap the upside. The subsequent decline saw the pair break below several key technical levels, including the 100-bar moving average on the 4-hour chart (1.2676), the 100-hour moving average (1.2666), and the 200-hour moving average (1.26244).The day's low was recorded at 1.26164, just shy of the upper boundary of a key swing area between 1.2596 and 1.26147. Notably, the level 1.26147 also coincides with the 50% retracement of the move from the 2023 low to the 2024 high. The bounce from this level was a critical hold for buyers, providing temporary relief and halting further downside.Sinc

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