There was a strong attack at the 1.6090-1.61 resistance area in the GBP/USD. This is also coincident with a declining channel resistance. - A break above was weak, and capped at 1.6118. The bearish candle that followed was an sharp engulfing type, signaling that the breakout was actually a clear-out. This shows strength in the opposite direction of the breakout. - Also, you can observe a negative reversal signal in the RSI. It did not break above 60 (or barely cracked it), but is higher than a previous RSI high – while the corresponding price highs got lower. This suggests a swing projection towards 1.58. Is there ... (full story)