Over the weekend I discussed how the GBPUSD is likely in need of a pullback before the next leg higher can begin. The same goes for the EURUSD. Both pairs are trending lower to start the week with the GBPUSD off of Friday’s close by 60 pips. Buyers didn’t quite make it back to the 1.4070 resistance area, but today’s high of 1.4049 is relatively close. If you’re still in search of a way to trade pound strength or weakness, the 4-hour price structure below might help. While it is true that the broader trend is still bullish, the smaller ascending channel within the larger descending channel hints at further weakness. ... (full story)