GBP/USD Weakening

GBP/USD rising move stops, decreasing after reaching 1.4097 high and approaching hourly support at 1.3980 (30/01/2018 low). Hourly resistance is given at 1.4278 (02/02/2018 high). 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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