GBP/USD: FUNDAMENTAL ANALYSIS + PRICE ACTION |SHORT VIEW 🔔

A slowdown in the UK economy can cause the Bank of England's monetary normalisation rate to be minimised. In such a situation, much in the fate of GBPUSD begins to depend on the Fed. We discuss the market outlook and make a trading plan. Once the pound was popular among buyers due to the accelerated vaccination. The UK is now among the leaders in terms of the fully vaccinated population. At the same time, the slower increase in the number of COVID-19 cases in Britain compared to the United States does not worry GBPUSD traders. The government is doing everything possible to accelerate economic growth. Despite the opening of the economy, British citizens are in no hurry to spend money.
That is why we see this pair in the Daily chart within a side channel since February with the price bouncing between levels around 1.42 and 1.36. In the last few days we can see that the chart has been characterized by lows and highs to fall and the price bring below the average 200 about to cross with the 50 and sanction the beginning of a bearish trend. In opposition to this, with the evidence of a divergence in the stochastic indicator, the price could have a further bullish impulse and continue to stay within the aforementioned rectangular zone. In the chart you can see two important price levels. Our Idea is fundamentally bearish.