GBPUSD (1.3046): The British pound failed to capitalize on the gains after clearing the resistance area of 1.3132 – 1.3086. The consolidation above this level pushed the currency pair back below the resistance level. However, the 4-hour Stochastics is seen falling strongly which could signal a rebound on a hidden bullish divergence. A steeper decline following the downside breakout below the 20-period EMA could indicate further correction.
