(21 NOVEMBER 2017)GBP / USD:Continued recovery bounce.

(21 NOVEMBER 2017)GBP / USD:Continued recovery bounce.

21 November 2017, 12:40
Jiming Huang
0
16
gbp

Continued recovery bounce.

(By Yann Quelenn)

• GBP/USD has broken 1.3230 resistance

indicate an extension of bullish momentum.

Support is given at 1.3027 (06/10/2017 low).

Expected to show continued increase.

• 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.

Share it with friends: