(08 MAY 2017)GBP / USD:Slight increase.

(08 MAY 2017)GBP / USD:Slight increase.

8 May 2017, 13:58
Jiming Huang
0
18

GBP

Slight increase.

• GBP/USD is trading mixed. Hourly resistance 

given at 1.2966 (30/04/2017 high) has been 

broken. 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 )

Share it with friends: