GBPUSD is remaining under pressure during this month and it completed a fresh four-and-a-half-month low around 1.2600 in the preceding week. Currently, the pair has been holding beneath the red Tenkan-sen line as well as below the 23.6% Fibonacci retracement level of the downfall from 1.3380 to 1.2600, near 1.2790, suggesting more losses in the market. However, turning attention to the technical indicators, the RSI seems to be overstretched as it returned above the overbought zone but is still flattening in negative territory. The MACD is moving sideways below its red trigger and zero lines. If prices continue to ... (full story)