GBPUSD: Continues to weaken!
Updated
Hey there! Are you wondering whether GBPUSD will rise or fall today? Let's explore and find out together!
Yesterday, GBPUSD continued its downward trend, seemingly solidifying its bearish trajectory by breaking below the support level at 1.261. The reversal signal from the 34 EMA line further indicates that the bear camp is currently dominating the market. Moreover, the lackluster recovery of USD has failed to provide the necessary momentum for GBPUSD to make a significant comeback.
I am leaning towards a selling trend and predicting that the price may retest the level of 1.251. What about you? Do you share my sentiment?
Yesterday, GBPUSD continued its downward trend, seemingly solidifying its bearish trajectory by breaking below the support level at 1.261. The reversal signal from the 34 EMA line further indicates that the bear camp is currently dominating the market. Moreover, the lackluster recovery of USD has failed to provide the necessary momentum for GBPUSD to make a significant comeback.
I am leaning towards a selling trend and predicting that the price may retest the level of 1.251. What about you? Do you share my sentiment?
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