GBPUSD Falls Below Consolidation Range Amid Dollar Strength
The GBPUSD currency pair is facing strong headwinds due to a resurgent US dollar and policy divergence between the Federal Reserve and the Bank of England.
The pair has broken below its previous consolidation range, trading near 1.3390, indicating a bearish trend for this week.
This trend is reminiscent of the Euro's struggles as well, both facing challenges due to the US dollar's resurgence.