Huncho99

Real World Traders--> GBPUSD is declining

Short
FX:GBPUSD   British Pound / U.S. Dollar
The GBP/USD currency pair is currently showing signs of a potential downward trend due to multiple technical and fundamental factors. Firstly, the trendline break suggests that the pair has broken below a previously established upward trend, indicating a shift in market sentiment towards a bearish direction. Secondly, the appearance of a double top pattern, where the price has reached a similar high twice and then decreased, adds further evidence to the bearish trend . Finally, the fundamentals of the currency pair also support a potential fall in the GBP/USD exchange rate. For example, the ongoing Brexit negotiations and uncertainty around the future trading relationship between the UK and EU could weigh on the value of the British pound, while a strengthening US economy may boost the value of the US dollar . All these factors combined suggest that GBP/USD may experience a downward trend in the near future.
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