Despite temporary rebounds, the GBP/USD pair maintains a bearish bias in the short term. Stabilizing below the median line (ml) could announce more declines. After worse-than-expected US data on Friday, a rebound was natural. The GBP/USD price slumped in the last hours. The pair is trading at 1.2157 at the time of writing. It has climbed as high as 1.2241 today, registering a new high. However, it has failed to stay around this level as the USD strongly recovered the losses. Fundamentally, the currency pair tried to jump higher as the US reported poor economic figures on Friday. The Flash S –Are you interested to learn more about day trading brokers? Check our detailed guide-ervices PMI came in at 44.4 points versus 46.5 expected, while Flash Manufacturing PMI dropped from 47.7 points to 46.2 points confirming further contraction. On the other hand, the UK Flash Services PMI jumped from 48.8 to 50.0, while Flash Manufacturing PMI dropped from 46.5 to 44.7 points. Today, the Pound received a helping hand from the CBI Industrial Order Expectations, which came in at -6 points versus the -10 points expected. The BoJ is expected to keep the BoJ Policy Rate at -0.10% tomorrow. This is seen as a high-impact event and could have an impact on the USD as well. Furthermore, the US is to release the Housing Starts, expected at 1.40M below 1.43M in the previous reporting period, and the Building Permits, the indicator could drop from 1.51M to 1.48 M. The markets could also be shaken by the Canadian CPI and the US CB Consumer Confidence on Wednesday. Get FREE Forex Signals Now! GBP/USD price technical analysis: Sellers emerging below 1.2200 Technically, the price is trapped between 1.2223 and 1.2156 levels. Breaking the range could bring us new trading opportunities. Now, it challenges the median line (ML) of the descending pitchfork and the 1.2156 support. –Are you interested to learn more about forex options trading? Check our detailed guide- After dropping and stabilizing below the uptrend line, the price action signaled a potential downside reversal. So, stabilizing below the median line, the GBP/USD pair could extend its downside movement. After its last sell-off, a minor rebound was natural. It has tried to test the immediate resistance levels before dropping again. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Olimpiu Tuns Olimpiu Tuns Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms. View All Post By Olimpiu Tuns Majors share Read Next AUD/USD Outlook: RBA’s Potential Pause Inviting Sellers Saqib Iqbal 1 month Despite temporary rebounds, the GBP/USD pair maintains a bearish bias in the short term. Stabilizing below the median line (ml) could announce more declines. After worse-than-expected US data on Friday, a rebound was natural. The GBP/USD price slumped in the last hours. The pair is trading at 1.2157 at the time of writing. It has climbed as high as 1.2241 today, registering a new high. However, it has failed to stay around this level as the USD strongly recovered the losses. Fundamentally, the currency pair tried to jump higher as the US reported poor economic figures on Friday. The Flash… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.