GBPUSD price declined due to bearish correctional wave and weak bullish momentum
Trading below EMA50 and negative signals on RSI suggest more bearish moves in near-term
Strong support needed to change current trend and shift towards bullish direction
The (GBPUSD) price declined in its last intraday trading, affected by the dominance of bearish correctional wave on the short-term basis, amid the weakness of the bullish momentum and the continuation of the technical pressures on the price.
This decline is supported by the continuation of the trading below EMA50, besides the emergence of the negative signals on the (RSI), indicating the markets prefer more bearish moves on the near-term basis, unless strong support emerges to change this trend.
