GBP/USD Breaks June Uptrend as Sterling Selloff Continues
The British Pound has seen a significant decline in value over the past few weeks, with GBP/USD plummeting more than 2.5% from its August high.
This selloff has broken the June uptrend, and Sterling is now attempting to break below the 61.8% retracement of the June rally at 1.3345.
Daily momentum is showing possible divergence on this latest drop, highlighting a risk for near-term exhaustion in the days ahead.