The GBP/USD pair continues losing ground for the third straight day – also marking the fourth day of a negative move in the previous five – and plummets to over a two-week low during the first half of the European session on Thursday. Spot prices currently trade below mid-1.3100s

Sentiment is: Negative

Technical Analysis

GBP/USD is moving towards a resistance line. Because we have seen it retrace from this line before, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 7 days and may test it again within the next 13 hours.

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