Sideways price action.
(By Yann Quelenn )
• GBP/USD is around the 1.3000 mark. Hourly
resistance is given at 1.3126 (16/07/2017 high).
Hourly support is given at 1.2933 (20/07/2017
low). Expected to show renewed bearish
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.
