(21 AUGUST 2017)GBP / USD:Monitoring strong support.

Monitoring strong support.

(By Yann Quelenn)

• GBP/USD is edging higher. Hourly resistance is 

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

can be found at 1.2812 (12/07/2017 low). 

Expected to show continued 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.