GBP/USD is having a consolidation phase along the 1.41 range following recent break of hourly resistance at 1.4151 (05/02/2018). Hourly support and resistance remain at 1.3765 (09/02/2018 low) and 1.4345 (25/01/2018 high). The short-term bullish pattern is maintained. The technical structure suggests continued shortterm sideways trading moves.
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).