GBPUSD -1.31%
GBPUSD lost ground after a six-day winning streak; the USD regained strength with the release of S&P Global Services PMI and ISM Non-Manufacturing PMI, which showed a better performance than the previous month, strengthening the USD.
The pair is still on a downtrend as the long-term moving average is above the current price; the pair found strong resistance at $1.14954. If the support level on the 50% Fibonacci retracement at 1.13235 is broken, we expect the downtrend to resume. Volatility will be high in the short term.
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