The GBP/USD has maintained support at a key Fibonacci retracement level on a closing basis for the fourth consecutive day (1.4294 = 78.6% of the rebound off 1.3500). Hourly, 4-hourly and daily bullish MACD divergence hint at an overdue correction. A break above daily RSI trendline resistance should trigger a corrective rebound towards the resistant 10-day MA (now at 1.4619). A daily close below 1.4294 or a sustained loss of the 1.4238 level, suggests that market bears remain in firm control and would refocus the 1.41 handle initially.
