Riding uptrend channel.
(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 above
former resistance 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.