GBPUSD’s lack of momentum has frozen the pair around the mid-Bollinger band and above the 1.2462 mark, that being the 50.0% Fibonacci retracement of the down leg from 1.3514 to 1.1410. Despite the recent improvement from the lower Bollinger band, the short-term oscillators reflect a state of evaporated directional momentum. The MACD and its red trigger line are flat at the zero mark, while the RSI is hovering marginally above the 50 threshold. The stochastic lines have stalled just above the 80 level but have yet to show signs of weakening, suggesting the price may continue its current trajectory. However, the ... (full story)