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.