• Recent consolidation has sapped momentum from GBP/USD's bull run

• Underlying trend still in place but an upside breakout needed soon

• Daily RSI is panning out sideways just below overbought levels

• Bollinger bands are wide suggesting volatility

• Potential daily bullish continuation pattern but becoming stale

• Resistance at 1.3348, April 24 high: support at 1.3234, April 23 low

• Weeklies are overbought: a long upper shadow last week, bearish warnings

• On balance still bullish potential but this week could prove pivotal
GBP/USD daily candle chart:

(Peter Stoneham is a Reuters market analyst. The views expressed are his own)