(17 JULY 2017)GBP / USD:Consolidating after strong increase.

Consolidating after strong increase.

(By Yann Quelenn)

• GBP/USD has broken the 1.3000 mark. Strong 

resistance at 1.3048 (18/05/2017 high) has been 

broken. Expected to show continued bullish 

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.