Riding short-term downtrend channel.
(By Yann Quelenn )
• GBP/USD continues to move lower within
downtrend short-term channel. The technical
structure indicates further weakness. Support is
given at a distance at 1.3302 (15/12/2017 low).
• 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.