The (GBPUSD) price rose in its last intraday trading, to recover some of its previous losses, but it’s still affected by the negative pressure due to its trading below EMA50, which reinforces the continuation of the main bearish trend dominance on a short-term basis, especially with the trading alongside supportive trend line for this track.
At the same time, we notice the relative strength indicators reaching exaggerated overbought levels compared to the price movement, indicating the fading of the current bullish momentum, increasing the possibilities of the price return declining again in its upcoming trading.
Origin: Economies
