(27 NOVEMBER 2017)GBP / USD:Riding uptrend channel.

(27 NOVEMBER 2017)GBP / USD:Riding uptrend channel.

27 November 2017, 12:52
Jiming Huang


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.

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