GBP/USD kicked off this week’s trading on a strong note, breaking out to the upside of the falling trend channel which had contained price action for the past several weeks. While this is a bullish sign for GBP/USD, Monday’s price action also left the pair very overbought, with the Stochastic, a price momentum oscillator, reaching an extreme level. At present the pair appears to be reacting to the overextended condition and is currently down 0.63% at 1.2455. Sterling did temporarily spike higher today, following a ruling by the UK Supreme Court that Prime Minister Theresa May must get Parliament’s approval before she ... (full story)