GBP/USD is bouncing down, heading below 1.40 range and heading for 1.3742 (16/01/2018 low). The technical structure suggests further upside move.
The long-term technical pattern is reversing. The Brexit vote had paved the way for further decline but the pair is moving to 2016 highs. Long-term support and resistance are given at 1.1841 (07/10/2017 low) and 1.5018 (24/06/2016 high).
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