12/09/2008 – GBP/USD – Languishing near 6-year lows, GBP/USD (a daily chart of which is shown) is currently adhering closely to a significant downtrend resistance line. After having just tested, tentatively breaking, and then retreating just last week from the prior 6-year low reached in mid-November, this pair appears poised to make yet another potential run towards the lows. Volatility has been diminishing significantly within the last week or so as price action has been confined to converging borders (resembling a descending triangle formation). Much like other major pairs that are currently entrenched in ... (full story)