GBPUSD is recovering from the five-month low of 1.2300 that was posted on Monday and is heading towards the restrictive region of 1.2495-1.2520. The pair has started a bearish tendency since the price peaked at 1.2892 in the short-term timeframe. According to technical oscillators, the MACD is trying to cross its trigger line to the upside beneath the zero level. Also, the stochastic oscillator is moving strongly higher following the rebound off the oversold territory. If traders continue to buy the pair, then the price could meet the aforementioned region and the 20-day simple moving average (SMA) around 1.2520. ... (full story)