(07 AUGUST 2017)GBP / USD:Monitoring medium-term uptrend.

(07 AUGUST 2017)GBP / USD:Monitoring medium-term uptrend.

7 August 2017, 13:37
Jiming Huang
0
13

gbp

Monitoring medium-term uptrend.

(Yann Quelenn)

• GBP/USD still lies within a bullish trend despite 

ongoing consolidation. Hourly resistance is given 

at 1.3267 (03/08/2017 high). Hourly support is 

given at 1.2933 (20/07/2017 low). Expected to 

show growing 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.


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