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GBPUSD slides but remains stuck in rangebound pattern
video GBPUSD had been trending higher within an upward sloping channel, posting a fresh four-month peak of 1.2826 in late December. Nevertheless, the rally seems to have taken a breather, with the price trading without a clear direction since the beginning of the year. Given that the short-term oscillators are providing cautiously negative signals, the bears could attempt to push the price below 1.2611, which is the lower end of the recent range. Piercing through that floor, the price may test the December bottom of 1.2500. A violation of that hurdle could pave the way for 1.2445, a region that provided both support ... (full story)
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