GBP/USD Price Forecast: Technical outlook The GBP/USD remains biased downward despite recovering the psychological figure of 1.2600. Bulls must reclaim 1.2700 to test the 200-day Simple Moving Average (SMA) at 1.2818. If those levels are cleared, the bias could shift upwards.

For a bearish continuation, if GBP/USD drops below 1.2600, bears could drive the exchange rate toward the November 22 swing low of 1.2486. A breach of the latter will expose the year-to-date (YTD) low of 1.2299. Oscillators such as the Relative Strength Index (RSI) signals buyers’ recovery. However, bears remain in charge as the RSI remains below the neutral line.