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
• 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.