GBP/USD remains sidelined while licking its wounds around 1.2850 after the heavy weekly fall during early Monday morning in Asia. In doing so, the Cable pair seesaws between the 100 and 200 Exponential Moving Average (EMA) as the oscillators appear poking bears ahead of the key preliminary readings of the UK and US PMIs for July. With this, GBP/USD remains sidelined unless trading between the aforementioned EMA envelope, currently between 1.2890 and 1.2790. That said, the impending bull cross on the MACD and the nearly oversold RSI (14) line suggests a corrective bounce off the Pound Sterling, which in turn ... (full story)