• Loss consolidation for sterling below the 10-day moving average

• The average has been tracking them bear trend since the Jan. 8 breakdown

• Current value 1.2263 with the Jan. 15 1.2306 high behind

• Negative fourteen day momentum is fading and RSI is rising

• Key support at the Jan. 1.2100 low

• Weekly chart warning of a potential reversal but sterling has work to do

• Close above 1.2326 neededGBP/USD Trader: [page:2338]
GBP/USD daily candle chart:

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