GBP/USD Price Analysis: Finds demand below 1.2350 as USD Index drops GBPUSD Fed ChartPatterns SupportResistance Volatility
failing to sustain above the round-level resistance of 1.2400. The major has shown a rebound amid a correction in
of the market participants is declining again. Meanwhile, the 10-year year US Treasury yields are still holding above 3.54% despite a minor correction. The asset is oscillating below the 50-period Exponential Moving Average at 1.2375, which indicates that the short-term trend is bearish now.The Relative Strength Index has yet not surrendered the 40.00-60.00 range. A breakdown into the 20.00-40.00 range will trigger the downside momentum.
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