(01 MAY 2017)GBP / USD:Ready to target 1.3000.

(01 MAY 2017)GBP / USD:Ready to target 1.3000.

1 May 2017, 14:57
Jiming Huang
0
16

GBP

Ready to target 1.3000.

• GBP/USD keeps pushing higher. Resistance at 

1.2905 (18/04/2017 low) has been broken. The 

pair has exited the short-term bearish 

momentum. Hourly support can be found at 

1.2757 (21/04/2017 low). An unlikely break of this 

support would indicate further weakness. 

• The long-term technical pattern is even more 

negative since the Brexit vote has paved the way 

for further decline. Long-term support given at 

1.0520 (01/03/85) represents a decent target. 

Long-term resistance is given at 1.5018 

(24/06/2015) and would indicate a long-term 

reversal in the negative trend. Yet, it is very 

unlikely at the moment.

(By Yann Quelenn )

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