Technical Analysis: Market Volatilitys and GBP/USD Downtrend
The British Pound is declining against the US Dollar following a day of volatile trading due to escalating Israel-Iran conflict. Leading figures from central banks, including the Bank of England (BoE) and the Federal Reserve, continue to make waves in the financial markets.
Overall, the GBP/USD currency pair remains within a downtrend channel. This is evidenced by the price dropping below the key threshold at 1.2400.
Based on technical analysis, examining the chart reveals that the price has broken through the trendline and consistently formed new low points, clear indicators of a strong downward trend.
Overall, the GBP/USD currency pair remains within a downtrend channel. This is evidenced by the price dropping below the key threshold at 1.2400.
Based on technical analysis, examining the chart reveals that the price has broken through the trendline and consistently formed new low points, clear indicators of a strong downward trend.
