GBPUSD returned to the red zone on Tuesday, plunging to a new two-and-a-half-month low of 1.2527 after Monday’s bullish efforts evaporated immediately near the 1.2625 constraining area. The trend has been negative since July and the bearish crossing of the 20- and 50-day SMAs is causing concern for the near future. Moreover, the technical indicators are pointing to a continuous decline as the RSI has reversed course back to the downside below its 50 neutral mark, and the MACD has plunged below its red signal line. Selling forces could take a breather somewhere between the 50% Fibonacci mark of the 1.1800-1.3141 ... (full story)