GBP/USD: Bearish Momentum Takes Control
Updated
The GBP/USD pair continues its descent, currently trading near 1.2543. The recent breakdown from the ascending channel highlights persistent selling pressure, with the pair aiming for the critical support zone at 1.2336. This level will be key in determining whether further declines are imminent or a short-term bounce could occur.
The failed attempt to reclaim the 1.2608 resistance area reinforces the bearish outlook. Sellers are dominating the trend as both technical indicators and market sentiment align with the downward trajectory.
The failed attempt to reclaim the 1.2608 resistance area reinforces the bearish outlook. Sellers are dominating the trend as both technical indicators and market sentiment align with the downward trajectory.
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