In the European trading session on Monday, the GBP/USD currency pair experienced a strong surge, pushing the price towards the 1.2500 level. This indicates that the US dollar has depreciated against the British pound.
On the 4-hour chart, the Relative Strength Index (RSI) has crossed above the 30 threshold, indicating that the GBP/USD is undergoing a corrective phase to recover and continue its upward momentum.
The downward trend of the GBP/USD could be attributed to various factors, including the economic and political situation in both the UK and the US, as well as global factors such as market volatility. Analyzing and evaluating these factors is crucial to achieving an effective and successful trading strategy.
On the 4-hour chart, the Relative Strength Index (RSI) has crossed above the 30 threshold, indicating that the GBP/USD is undergoing a corrective phase to recover and continue its upward momentum.
The downward trend of the GBP/USD could be attributed to various factors, including the economic and political situation in both the UK and the US, as well as global factors such as market volatility. Analyzing and evaluating these factors is crucial to achieving an effective and successful trading strategy.
