GBPUSD is in the process to creating an ascending triangle pattern with strong resistance the 1.2640 barrier and a rising trend line, which starts from the low on April 7. The pair rebounded on 1.2265 in the preceding sessions and is now flirting with the 20-period simple moving average (SMA) in the 4-hour chart. Turning to the technical indicators, the RSI has pulled back from the 50 level and returning lower, while the MACD keepS flattening below its zero line in the 4-hour chart. In case of an upward attempt above the 20-period SMA, the market would re-visit the 40-period SMA and the lower surface of the Ichimoku ... (full story)