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GBP/USD Price Analysis: Cable bears eye further downside towards 50-DMA
GBP/USD remains pressured around mid-1.2400s during early Monday, after posting the biggest weekly loss since late January in the last. In doing so, the Cable pair remains on the bear’s radar as it stays below the key support lines, now resistances, amid an absence of price-positive oscillators. That said, bearish signals from the MACD and a steady RSI (14) allow the Cable bears to extend the previous week’s downside break of the key support lines stretched from March. Also keeping the GBP/USD bears hopeful is the quote’s sustained trading below the 21-DMA. With this, the Pound Sterling appears well-set to ... (full story)