Home Analysis GBP/USD price plunges and remain in downtrend

GBP/USD price plunges and remain in downtrend

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GBPUSD price plunges and remain in downtrend - forexspacex.com

The British pound accelerated to the downside On Monday and broke the major psychological support level at 1.1900 level. The GBP/USD is expected to struggle further for any demand ahead of the US inflation data report. the political and economic crisis in the United Kingdom has undermined the demand for the British pound. The sentiment of investors continues to rotate around the major U.S. economic data reports this week. The GBP/USD price is trading near the daily low of 1.1850 level and is down by 0.35% at the time of reporting. From a fundamental perspective, GBP/USD will remain on the back foot in the near term amid the rise in the dollar index and US treasury yields.

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