{video}GBPUSD closed significantly above the tentative descending trendline stretched from the 2018 high of 1.4375 that looked to be part of a bullish pennant formation. The price inched up to an eight-month high of 1.3179 on Monday but remained close to the key 1.3175 resistance mark, with the RSI and the Stochastics hinting that buying pressure is overloaded and downside corrections are likely in the short-term. Still, overbought signals would only be confirmed if the indicators show a clear downside reversal. In case sellers return to the market, only a strong decline below the previous peak of 1.3011 would raise ... (full story)