Stalling below support given at 1.3046.
(By Yann Quelenn )
• GBP/USD's momentum is higher than
expected and the pair is now targeting key
resistance give at 1.3046 (18/05/2017 high).
Hourly support is given at 1.2589 (21/06/2017
low). Hourly resistance at 1.2818 (14/06/2017
high) has been broken. Expected to show further
continued buying pressures.
• 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.