Bouncing.
(By Peter Rosenstreich)
• GBP/USD has bounced near the support yet
the resistance at 1.3458 has thus far not been
decisively broken. Key support and resistance
are given at 1.3062 (13/11/2017 low) and 1.3613
(03/01/2018 low). The technical structure
suggests short-term upward moves.
• The long-term technical pattern is reversing.
The Brexit vote had paved the way for further
decline but the pair is moving to 2016 highs.
Long-term support and resistance are given at
1.1841 (07/10/2017 low) and 1.5018 (24/06/2016
high).
