GBP/USD is pushing lower since the pair has topped 1.3657 (20/09/2017 high). The pair has sharply broken support given at 1.3155 (14/09/2017 low). Expected to show continued bearish pressures within downtrend channel. Wide-open for further decrease.
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.
