GBP/USD:Bearish Channel Holds,Price Recovery Remains Challenging

8 giu 2023

The GBP/USD currency pair remains confined within a persisting Bearish channel, characterized by a downward trend. Notably, yesterday, the price experienced a significant rebound upon reaching the 61.8% Fibonacci retracement level. As of today, the price is displaying some efforts to regain its lost value; however, our overall perspective remains inclined towards a bearish outlook for this particular pair.