Topping: The pound has been strong of late, but is giving back some of that strength in the latter half of this week. The current rally came from the 1.481 July and 2013-low as you can see in the daily chart below. The market was near the 1.5750 June high before retreating. In the 1H chart above, you can see price action establishing a top, pulling back to test it, and now extending lower to confirm respect for topping action. More clues: Note the 200-hour SMA crossover. Also the RSI fell to 30, then pulled back but held under 60. If it falls below 40, it adds to the clues that the GBP/USD is starting to develop a ... (full story)