GBP/USD remains on the back foot around the intraday low as the previous day’s downside break of short-term key support, now resistance, favors sellers. That said, the cable pair stays depressed near 1.2590 by the press time, down for the second consecutive day while extending the pullback from the monthly high. Not only the cable pair’s downside break of the previously important support but steady RSI also hints at the quote’s further weakness. However, a confluence of the 21-day EMA and the 10-day EMA around 1.2560-50 puts a floor under the short-term GBP/USD downside. Should the bears manage to conquer the 1.2550 ... (full story)