GBP/USD extended its losses for the third consecutive session, trading around 1.3380 during early European hours on Wednesday. The near-term bias remains mildly bearish, as the pair trades below the declining nine-day EMA and the flatter 50-day EMA, indicating fading upside momentum after rejection from the mid-1.36s.

Technical Outlook
Trend: Daily chart shows GBP/USD pulled back from the upper boundary of the descending channel, reinforcing a bearish bias.
Momentum: The 14-day RSI hovers just below 40, confirming persistent downside pressure while avoiding oversold conditions.

Key Support Levels
1.3253 – Three-month low (December 3)
1.3140 – Lower boundary of the descending channel
1.3010 – Eleven-month low

Key Resistance Levels
1.3414 – Nine-day EMA / upper channel boundary
1.3482 – 50-day EMA

Trading Insight
Spot remains under the mid-1.36 rejection zone, keeping the short-term bias bearish. A break above 1.3414 would be required to shift momentum in favor of bulls, with further upside toward 1.3869 (January 27, 2026 high) possible.
💡 Strategy: Traders may watch for downside continuation toward support levels while monitoring key EMA levels for potential trend reversals.

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