Consolidation range breakout: The GBP/USD ended last week  (3/1) with a break down of a consolidation range roughly between 1.5070 and 1.5220. The 1H chart shows a strong break and start of bearish momentum. Price cracked the 1.50 handle. The moving averages also got back to bearish alignment, that is until price returned above 1.50 to consolidate in a tight range, bringing the lower MAs (8 and 22) together. Upside risk; central pivot: If there is a pullback, the 1.5150 level should be the maximum recovery IF the market remains bearish. A push above 1.5150 is an early clue that the break to the downside ... (full story)