Strong buying demand.
(By Yann Quelenn)
• GBP/USD has been trading lower over the past
few days but the technical structure indicates an
extension of bullish momentum. Support is given
at a distance at 1.3027 (06/10/2017 low).
Expected to show continued increase above
towards resistance at 1.3657 (20/09/2017 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.
