GBPUSD: Facing obstacles on the road to recovery
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Dear friends!
Today, GBPUSD is facing some weaknesses in its recovery process. As a result, GBP/USD has dropped to around 1.2680 in the Asian trading session early in the day. The British Pound has lost ground against the US Dollar due to risk aversion sentiment, possibly driven by concerns over political risks dominating market participants' psychology, which acts as a psychological arrow prompting investors to sell GBPUSD and causing this pair to decline.
From the 4-hour chart, we can observe that this currency pair has also broken out of the upward trend line, indicating that the price may continue to weaken.
What are your thoughts on the GBPUSD trend?
Today, GBPUSD is facing some weaknesses in its recovery process. As a result, GBP/USD has dropped to around 1.2680 in the Asian trading session early in the day. The British Pound has lost ground against the US Dollar due to risk aversion sentiment, possibly driven by concerns over political risks dominating market participants' psychology, which acts as a psychological arrow prompting investors to sell GBPUSD and causing this pair to decline.
From the 4-hour chart, we can observe that this currency pair has also broken out of the upward trend line, indicating that the price may continue to weaken.
What are your thoughts on the GBPUSD trend?
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