GBP/USD Daily chart 3/14/2013 10:10AM EST Breakout; bullish development: The GBP/USD has been bearish since the start of 2013. Recently, it has found support at 1.4830 , followed by a correction. This rally broke above a falling trendline in March, pulled the 1H RSI to 70, and thus killed near-term bearish momentum as well as establish bullish momentum, and is now pushing above 1.50 and the 200-H SMA. Price action appears to be “rounding out” a bottom. The RSI also stayed above 40 and is
