GBP/USD surged higher clearing resistance at 1.2988 / 95 (01/09/2017). Hourly support is given at 1.2774 (24/08/2017 high) while hourly resistance is given at 1.3050 (07/08/2017 high). Expected to show short-term bullish pressures.
The long-term technical pattern is even more negative since the Brexit vote has paved the way for further decline. Long-term support can be found at 1.1841 (07/10/2017 low). Long-term resistance is given around 1.35 and would indicate a long-term reversal in the negative trend. Yet, it is very unlikely at the moment.
