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Stephen_Anders
Apr 12, 2024 10:34 AM

Breaking Down the Trendline, GBP/USD Continues Downward Trend 

GBP/USDOANDA

Description

GBP/USD continues to decline below 1.2500 due to the strong US dollar and political tensions in the Middle East. This not only puts pressure on the British pound but also weakens the UK economy, causing instability in the currency market.

Furthermore, the price has broken through the trendline, indicating that the downward trend of this currency pair is becoming stronger. This breakout may be seen as a negative signal, adding selling pressure and increasing the weakness of the British pound against the US dollar.
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