GBPUSD touched overbought levels at a seven-month high of 1.3349 according to the RSI which topped at 70 and reversed southwards to retest support around 1.3150. The RSI continues to weaken towards its 50 neutral threshold, while the MACD is also losing steam, both signalling that caution is likely to persist in the short term. Yet the upward-sloping 20-day moving average suggests that the recent uptrend is not near to its end. The 1.3080-1.30 area could provide immediate support in case bearish action stretches below 1.3150. Under the 200-day MA (1.3000), the congested region between 1.2830-1.2780 could halt ... (full story)