GBP/USD is bouncing back. The technical structure indicates an extension of bullish momentum. Support is given at a distance at 1.3320 (07/12/2017 low). Expected to show continued further monitoring of resistance at 1.3549.
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.
