GBP/USD – Bearish Divergence during a Downtrend

From fxtimes.com

Relief rally: The GBP/USD has been in a relief rally since finding demand from the 1.4830 level against a downtrend throughout 2013 so far. Visually, you can also say it looks like it is trying to form some kind of rounded bottom. Pushing above 1.5220 should complete this rounded bottom. Then a break above 1.5320 would reflect a significant correction developing as it would break above a falling trendline from the 1.6380, 2013-high. Bearish divergence: Momentum to the upside however is fading as suggested by a bearish divergence with the 4H RSI reading. Cable has elbowed its way out of this week’s consolidation but ... (full story)