A very bullish candlestick pattern has formed on the daily chart and usually creates an immediate reversal when it works. The pattern: Bullish Engulfing. This is a good sign for the future of GBP strength against the dollar. Current RS reading: GBP = 2, USD = 3. I like the area below price, deep within the engulfing pattern while RS values are close together.
Check out my relative strength analysis I post everyday on twitter @WhosTrend