GBPUSD moves back into mark-down phase

GBPUSD

The GBPUSD’s green 5-day EMA has crossed back below its orange 13-day EMA (blue ellipse). This has effectively moved cable into a mark-down phase which is defined by a bearish EMA formation. I.e. the green 5-day EMA is below the orange 13-day EMA, and the orange 13-day EMA is below the black 34-day EMA. Moreover, the RSI(9) is below 50 and indicative of an underlying bearish momentum (blue rectangle).

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