GBP/USD Technical analysis H-1 Chart 
Based on the image you've provided, here is an analysis of the GBPUSD (British Pound / US Dollar) trading chart: Overall Trend: * The chart shows a clear downtrend starting from approximately midday on August 20th. * The price action is consistently below the red moving average line, which is also sloping downwards, further confirming the bearish trend. * The horizontal yellow line near the bottom of the current price action (at approximately 1.3410) appears to be a recent support level. The price has touched this level multiple times and is currently hovering just above it. Key Price Levels: * Current Price: 1.3410 * Recent Highs: The price reached a peak near 1.3530 on August 20th before the downtrend began. * Support: The area around 1.3410 seems to be acting as a strong support level. A decisive break below this level could indicate a continuation of the downtrend. Technical Indicators: * Moving Average: The red line is a moving average. The price has been trading below this line since August 20th, which is a classic signal of a downtrend. * RSI (14): The Relative Strength Index (RSI) is in the lower panel. * The RSI line is currently below 30, which indicates that the asset is in oversold territory. This suggests that the recent sell-off may be overextended and a potential bounce or a consolidation phase could be imminent. * The RSI reading is 35.90. While the main line is below 30, the value is slightly higher than that, indicating the possibility of some recent upward momentum or a less-strong "oversold" signal than the visual line suggests. * OsMA (12, 26, 9): The Oscillator of Moving Average (OsMA) is also in the lower panel, represented by the histogram. * The histogram is consistently negative (below the zero line) since August 20th, confirming the bearish momentum. * The bars appear to be getting shorter and moving back towards the zero line, which could signal a weakening of the bearish momentum. This aligns with the RSI's oversold signal and suggests a potential reversal or pause in the trend. Summary: The GBPUSD pair has been in a strong downtrend over the past two days. The price is currently testing a significant support level at 1.3410 and is in oversold territory according to the RSI. While the overall trend is bearish, the indicators suggest that the current downward momentum may be losing strength, and a reversal or a period of consolidation could be on the horizon. A break below the 1.3410 support would be a strong signal for further selling, while a bounce off this level could indicate the start of a minor reversal.
