GBPUSD spiked towards a three-month high of 1.2705 but it finished the session below the 1.2645 barrier on Thursday. The upside rally which started after the rebound on the 1.2075 support could take a breather in the near term as the momentum indicators are suggesting a pullback. The RSI is edging south below the 70 level, while the MACD is holding beneath its red trigger line. A declining move could find immediate support at the flat red Tenkan-sen line around 1.2590 and the 20-period simple moving average (SMA) at 1.2573. Lower still, the blue Kijun-sen line at 1.2533 and the 1.2500 handle could also provide some ... (full story)