Holding some bullish momentum: The GBP/USD remains in consolidation, but is holding on the bullish momentum shown in the latest upswing from 1.5910 to 1.6143. The 4H RSI reading kissed 70 during this swing, and is now holding above 40, suggesting it might be building up bullish momentum. If this is true, then price should soon push above 1.6143 and the RSI should clear back above 60 and tag 70 again. Bullish continuation: This development would signal bullish continuation at least in the short-term toward the 1.6308 high from September. above that, the 2011 highs of 1.6621 up to 1.6748 are the next bullish targets. ... (full story)