GBP/USD Continues Decline Under Strong Pressure from the USD
In recent US trading, GBP/USD has sharply declined below 1.2450, driven by the stable strength of the USD. This sustained USD dominance has intensified the downward pressure on GBP/USD, resulting in continuous price drops.
From a technical perspective, GBP/USD has shifted to a downward trend, consistently forming lower highs and lows and breaking crucial support levels. The clear break below the trendline signals further price declines in the near future.
With the Relative Strength Index (RSI) above 30, indicating strong selling activity, GBP/USD has entered a phase of pronounced selling pressure. This suggests ongoing selling momentum and prospects for continued price declines. Based on these indicators, it is expected that GBP/USD will persist in its downward trajectory, with the USD remaining a dominant force.
From a technical perspective, GBP/USD has shifted to a downward trend, consistently forming lower highs and lows and breaking crucial support levels. The clear break below the trendline signals further price declines in the near future.
With the Relative Strength Index (RSI) above 30, indicating strong selling activity, GBP/USD has entered a phase of pronounced selling pressure. This suggests ongoing selling momentum and prospects for continued price declines. Based on these indicators, it is expected that GBP/USD will persist in its downward trajectory, with the USD remaining a dominant force.
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