GBPUSD edged higher to fully recoup yesterday’s soft decline after news the British Prime Minister Boris Johnson will resign later in the day. The short-term outlook, however, is still discouraging as the bearish trend is well intact below June’s high of 1.2400. In momentum indicators, the upturn in the RSI and the MACD on the four-hour chart, shows improving market sentiment, but buyers may not show engagement unless the price overcomes the support-turned resistance zone of 1.1988 and surge above the 20-period SMA. If this scenario unfolds, bullish pressures could intensify towards the 50-period SMA at 1.2100, while ... (full story)