(28 AUGUST 2017)GBP / USD:Bouncing higher.

(28 AUGUST 2017)GBP / USD:Bouncing higher.

28 August 2017, 13:29
Jiming Huang


Bouncing higher.

(By Yann Quelenn)

• GBP/USD bearish momentum has bounced

around support given at 1.2774 (24/08/2017 

high). Hourly resistance is given at 1.3031 

(11/08/2017 high).Expected to show short-term 

bullish 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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