Technical Analysis: pound Sterling extends losing streak
Pound Sterling continues its losing spell for the third trading session on Wednesday. The GBP/USD pair slips below the crucial support of 1.2800. The asset is expected to decline towards the 20-day Exponential Moving Average (EMA), which trades around 1.2720. The 1.2700 round-level support would be a strong cushion for the Pound Sterling bulls.
The 14-period Relative Strength Index (RSI) falls to 60.00 after turning overbought. A decisive break below 60.00 would indicate that the bullish momentum is fading.
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