Ready for another leg higher.
• GBP/USD's buying pressures are still lively. The
pair has exited downtrend short-term channel.
The technical structure indicates further
potential upside. Support is given at a distance
at 1.3304 (15/12/2017 low) while hourly resistance
can be found at 1.3613 (03/01/2017 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.