GBPUSD continues to extend its losing streak
Updated
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Following a slight increase the previous day, GBP USD continued its streak of losses. One important factor contributing to this could be the combination of several elements that have lifted the USD to new highs since the beginning of the year, putting pressure on the major currency.
With a reversal from the EMA 34, it still signals a downward trend, with any recovery being short-term in nature. On the other hand, the target of 1.190 is still aimed for in this current decline.
Following a slight increase the previous day, GBP USD continued its streak of losses. One important factor contributing to this could be the combination of several elements that have lifted the USD to new highs since the beginning of the year, putting pressure on the major currency.
With a reversal from the EMA 34, it still signals a downward trend, with any recovery being short-term in nature. On the other hand, the target of 1.190 is still aimed for in this current decline.
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