GBPUSD has been edging higher over the last three days, following the bounce off the 21-month low of 1.2390 that was reached on January 2. This week the pair continues to attract buying interest, with the price climbing slightly above the long-term descending trend line. The technical indicators are still positive in the short-term, with the MACD stretching further above its red trigger line and the RSI moving above the 50 level with weak momentum. Yet the latter could also be an indication that the upside rally is overdone, and hence negative movements should not be a surprise in coming sessions. If traders turn ... (full story)