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GBP/USD Bullish Momentum Maintained

GBP/USD continues bouncing, outreaching resistance at 1.4003 (23/01/2018) and distancing support at 1.3742 (16/01/2018 low). The technical structure suggests further upside move.

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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