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.
