Consolidation breakout: Since finding resistance at 1.5411, GBP/USD has been consolidating, coming down to 1.5270. However, during the 4/16 US session, cable rallied an broke above the consolidation trendline as seen in the 4H chart. Note that the prevailing trend was also bullish since the March and 2013 low of 1.4830. This bullish price action opened up the 1.5411 high, and a possible bullish continuation outlook. Momentum: The RSI in the 4H chart held above 40 after it had tagged 70, showing maintenance of the bullish momentum. If it is dragged back above 60, it will reflect bullish continuation momentum in the 4H ... (full story)