{video}GBPUSD had been forming a profound structure of lower highs and lower lows since its 16-month peak of 1.3141. Although the pair’s latest attempt to recoup some losses got rejected by the 200-day simple moving average (SMA), buyers managed to halt the retreat and reclaim the 50-day SMA. Should buying interest intensify further, the October peak of 1.2336 could act as the first barrier for the price to clear. Surpassing that zone, the pair could advance towards the December-January resistance zone of 1.2445, which lies close to the 200-day SMA and rejected the latest advance. A break above that level could open ... (full story)