{video} GBPUSD dropped beneath the long-term ascending trend line and the 200-day simple moving average (SMA). Nevertheless, it has not escaped the consolidation area of 1.2520-1.2820, which has confined the price action since November 24. Currently, the pair is trying to recoup some of the previous days’ losses, but the momentum is still weak. In case of a sell-off beneath the lower boundary of the range and the 1.2495 support line, the market outlook will switch to a more negative one, challenging the 1.2370 barricade. The technical oscillators are confirming the neutral-to-bearish outlook as the MACD is extending ... (full story)