Technical Analysis – GBPUSD retreats below 1.3000 and short-term SMAs

GBPUSD is losing momentum below 1.3000, within a range that has been holding since the jump to a 14-month high of 1.3515 on December 13. Currently, the cable is developing beneath the 20- and 40-day simple moving averages (SMAs) confirming the weakening move in the market. The RSI indicator is marginally below the 50 level, while the […]