(03 JULY 2017)GBP / USD:Stalling below support given at 1.3046.

(03 JULY 2017)GBP / USD:Stalling below support given at 1.3046.

3 July 2017, 13:34
Jiming Huang
0
16

gbp

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.



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