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2025-07-28 17:26:05
[Trade agreement hits foreign exchange market, pound under pressure for three consecutive declines, is technical breakdown imminent? ] ⑴ After the United States and the European Union reached a 15% trade agreement, the demand for the US dollar increased, causing the pound to widen its decline against the US dollar. ⑵ The pound has closed lower for the third consecutive trading day against the US dollar, falling from 1.3449 to 1.3407. ⑶ This consolidates its trend of closing inside the daily cloud area last Friday, showing that the technical side is facing downward pressure. ⑷ The key support level is between 1.3330 and 1.3300, which includes the lower edge of the daily Bollinger band at 1.3330, the 100-day moving average at 1.3329, and the bottom of the cloud area at 1.3300. ⑸ Once it falls below this range, the pound may face a deeper correction. ⑹ The upward resistance level is at the 10-day moving average of 1.3461 and the upper edge of the cloud area at 1.3479. ⑺ Although the euro fell against the pound in early trading, temporarily slowing the decline of the pound, the strength of the US dollar is still dominating the market.
