Pausing above support at 1.2933.
(Yann Quelenn )
• GBP/USD is now trading sideways. 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 further monitoring of
support at 1.2933.
• 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.