Technical Analysis – GBPUSD uptrend runs out of steam above 61.8% Fibonacci

GBPUSD is struggling to recapture positive momentum after its rebound from the 35-year low of 1.1410 ran out of energy when it crossed above the 61.8% Fibonacci retracement of the March down move in the 4-hour timeframe. The RSI is hovering just below the 50-neutral level, while the MACD is barely holding in positive territory […]