The (GBPUSD) price declined in its last intraday trading, to break the key support of 1.3415, confirming its dominance on clear bearish sub-wave on the short-term basis, with the continuation of its trading alongside supportive trendline for this track. This decline comes amid the continuation of the negative pressure due to the price’s stability below EMA50, reinforcing the dominance of the sellers in the current trend.
Noticing the emergence of the negative signals on the relative strength indicators, despite reaching oversold levels, indicating that the weakness might continue in an intraday basis before the price takes its breath.
Origin: Economies
