(10 JULY 2017)GBP / USD:Continued short-term selling pressures.

(10 JULY 2017)GBP / USD:Continued short-term selling pressures.

10 July 2017, 13:41
Jiming Huang
0
12

gbp


Continued short-term selling pressures.

(Yann Quelenn )

• GBP/USD is still trading lower. The pair failed 

to monitor resistance given at 1.3046 (18/05/2017 

high). The road is wide-open for 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.

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