GBP/USD is consolidating lower after recent surge. The pair has broken hourly resistance at 1.3329 (13/09/2017 high) and has set up a new hourly resistance at 1.3619 (18/09/2017 high). Strong support is given at 1.2774 (24/08/2017 low). Expected to show continued bearish consolidation.
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.