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GBP/USD Might Not See Support Until 1.5740-1.5750

posted by Avatar FXTimes 624 days ago in USD, GBP, Technical made popular 624 days ago

Starting with the weekly chart, we see that since 2008, the GBP/USD has been in consolidation mode following a bear run earlier in the year and in late 2007. Since then, the RSI maintained below 60, so the long-term momentum has never turned away from being bearish. Now in Sept of 2011, the SMA 200 finally caught up to the price action...
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