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.