GBP/USD has staged a minor recovery higher peaking at 1.5869 thus far. However, the failure to hold above 1.5780 now warns that this corrective phase may now be over, with a return to weakness more likely.  However, given structure present since 1.6455 there is an expectation of a larger recovery higher, perhaps back towards 1.6200, before a lower high may form.  Should an exhaustion pattern present itself we may also trade from the long side in anticipation of a bounce. For now the bias remains neutral amid oversold conditions. USD/JPY is maintaining its potential DeMark™ exhaustion bullish signal, after the new ... (full story)