HomeContributorsTechnical AnalysisGBP/USD Slight Increase

GBP/USD Slight Increase

GBP/USD bounce from 1.3254 (01/06/2018 low)continues, approaching the 1.3380 range. Theshort-term bearish trend started in mid-April2018 is maintained. Key support and resistanceare given at 1.3062 (13/11/2017 low) and 1.3613(03/01/2018 low). The technical structuresuggests short-term upward moves.

The long-term technical pattern is reversing.The Brexit vote had paved the way for furtherdecline but the pair is moving to 2016 highs.Long-term support and resistance are given at1.1841 (07/10/2017 low) and 1.5018 (24/06/2016high).

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