GBP/USD is starting the week looking at a bullish swing against last week’s bearish swing from 1.7191 (2014-high) to 1.7036. The rally is so far pushing above last week’s falling trendline. This is an early clue that the mode could be shifting back to bullish. However, it is not enough. A couple more clues can help the case for bullish revival. 1) A break above 1.7131 would be able to break above the 61.8% retracement of last week’s swing, and above the 200-, 100- and 50-hour simple moving averages. 2) If the RSI is also pulled back above 70, the bearish outlook should be shelved, and the market would then be at ... (full story)