(11 SEPTEMBER 2017)GBP / USD:Strong bullish trend.

(11 SEPTEMBER 2017)GBP / USD:Strong bullish trend.

11 September 2017, 13:29
Jiming Huang
0
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gbp

Strong bullish trend.

(By Yann Quelenn )

• GBP/USD has pushed above rising trend-line 

resistance, confirming an improving short-term 

technical structure. Strong support is given at 

1.3023 (06/09/2017 low). Expected to show 

continued short-term bullish pressures toward 

resistance at 1.3267 (03/08/2017 high). 

• The long-term technical pattern is even more 

negative since the Brexit vote has paved the way 

for further decline. Long-term support can be 

found at 1.1841 (07/10/2017 low). Long-term 

resistance is given around 1.35 and would 

indicate a long-term reversal in the negative 

trend. Yet, it is very unlikely at the moment.


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