GBPUSD returned to the red zone and near a key support area around 1.25 after attempting to recover during the past three sessions. Chances for a meaningful rally in the short-term are currently viewed as minimal as the market action continues to take place comfortably below the simple moving averages (SMA) and the Ichimoku cloud, while the RSI and the MACD are lacking a clear direction while in the bearish area. Should the bears clear the 1.25 barrier, the focus will shift immediately towards the six-month low of 1.2438. Breaking decisively below the latter, the sell-off could extend until the 1.2330 number, where ... (full story)