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GBP/USD: 15/05: Bears counterattack, nice entry point for sell.

Short
British Pound / U.S. Dollar (OANDA:GBPUSD)  
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OANDA:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Technical Indicators Fundamental Analysis GBPUSD gbpusd_forecast gbpnzdlong sellsignal sellgbpusd traderlifestyle traders traderchamp tradertime
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trendanalysis indicator fundamental gbpusd gbpusd_forecast gbpnzdlong sellsignal sellgbpusd traderlifestyle traders traderchamp tradertime
GBPUSD GBP/USD is building strength to recover from near the 1.2455 support as the US Dollar Index (DXY) has posted downside momentum after seeing a high of 102.70 early in the European session . It is expected that Cable will strengthen its force after breaking through the immediate resistance of 1.2485.
GBP/USD has slipped below the Rising Channel chart pattern formed on the four-hour scale. Cable is on a make or break, so absolute volatility is widely anticipated. The 20-period exponential moving average (EMA) at 1.2520 has acted as a major hurdle for the British Pound bulls.
The Relative Strength Index (RSI) (14) is hovering in a bearish 20.00-40.00 range, suggesting more weakness to come.

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