Higher interest rates in the United States course help set situation as well, it looks as if we are trying to break down below the 1.33 level. Once we cleared that level, the next target would be the 1.30 level.
GBP/USD Weekly Forecast - 28 May - 1 June
The British pound has broken down significantly during the week, after initially trying to rally and retest the previous uptrend line. The fact that it has failed at that uptrend line to break above again tells me that we will more than likely continue to see a lot of downward pressure in this market.
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