GBP/USD portrays a corrective bounce off a three-month low to around 1.2500 amid early Thursday morning in Asia. In doing so, the Cable pair justifies the oversold RSI conditions, as well as the Pound Sterling’s sustained rebound from the 78.6% Fibonacci retracement of late May to mid-March upside, near 1.2485. Even so, the bearish MACD signals and the support-turned-resistance stretched from early August guard immediate recovery of the Pound Sterling pair around 1.2530. Following that, a one-week-old descending resistance line surrounding 1.2580 will precede the 200-SMA hurdle of around 1.2720 to act as the final ... (full story)