Consolidation: GBP/USD has consolidated since falling sharply on Monday (2/25). It has found a range between 1.5072 support and 1.5218 resistance. You can see the moving averages converge. The closer they converge, the more ready the market is to resolve the next swing in the short-term. Momentum: It should be noted that the RSI in the 1H chart has held under 60 since breaking below 30 on Feb. 11. This shows persistent bearish momentum since then and the fact it still remains under 60 shows that the bearish momentum is intact. Breakout scenarios: A push above 1.5218 should pull up the RSI above 60 and signal loss of ... (full story)