Momentum is fading around strong
(Yann Quelenn )
• GBP/USD still lies within a bullish trend. Hourly
resistance is given at 1.3159 (27/07/2017 high).
Hourly support is given at 1.2933 (20/07/2017
low). Expected to show renewed monitoring of
resistance below 1.3200.
• 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.