(16 OCTOBER 2017)GBP / USD:Continued increase.

(16 OCTOBER 2017)GBP / USD:Continued increase.

16 October 2017, 13:36
Jiming Huang


Continued increase.

(Yann Quelenn )

• GBP/USD continues to rise after the break of falling channel. A support can be found at 1.3122 12/10/2017 low). Hourly resistance stands at 1.3338 (13/10/2017 high). • The long-term technical pattern is reversing. The Brexit vote had paved the way for further decline. Long-term support can be found at 1.1841 (07/10/2017 low). Long-term resistance given around 1.35 is at stake and indicates a long-term reversal in the negative trend. Yet, it is very unlikely at the moment.

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