Monitoring support at 1.3000.
(By Yann Quelenn)
• GBP/USD is back towards support given at
1.3027 (06/10/2017 low). String resistance is
given at 1.3338 (13/10/2017 high). Expected to
show continued decline.
• 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.