Trendline break: To start the week, GBP/USD looked like it was about to confirm a break above a falling trendline. However, when it got to last week’s and the March high of 1.5259 it retreated, making the case for a false breakout to the upside, which could also suggest bearish continuation. Price action is already focusing on some recent lows around 1.51, a break and hold below which could turn the bias back to the downside. Targets: Clearing 1.5025 would open up the 1.4830 low. In this scenario, we would either be in a medium term (month or 2 long) consolidation, or we could be in a bearish continuation if price ... (full story)