HomeContributorsTechnical AnalysisGBP/USD Weakening After Short Recovery

GBP/USD Weakening After Short Recovery

GBP/USD is weakening back after reaching 1.3877 and starts distancing hourly resistance at 1.3945 (19/01/2018 high). The upward trend of November 2017 starts weakening. Hourly support is given 1.3678 (12/01/2018 low). The technical structure suggests short-term decrease.

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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