Broken trendline: The GBP/USD was able to break down below a rising trendline from August and the 1.61 handle during the 10/3 session. Do far in the 10/4 session, we have seen a pullback from the 1.6065 pivot, which I noted as a near-term target to monitor for support. The pullback gives us a chance to test the GBP/USD bears as it comes back to a declining trendline. Bearish scenario: The 1H chart shows that there was a rejection from the 1.6135 level in the 10/4 Eruopean session. This shows the market is fading this pullback. Also note the 1H RSI reading testing 60. If the bearish momentum is to be maintained the ... (full story)