GBP/USD attempts to hold above the 50-Day SMA (1.2609) as it continues to bounce back from a fresh monthly low (1.2597), but the exchange rate may struggle to retain the advance from the December low (1.2500) as it no longer trades within the ascending channel from last year. US Dollar Forecast: GBP/USD Rebounds from 50-Day SMA GBP/USD may no longer respond to the positive slope in the moving average as it fails to defend the opening range for January, and the exchange rate may continue to trade to fresh monthly lows as it struggles to retain the advance following the unexpected rise in the UK Consumer Price Index ... (full story)