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GBP/USD Decreasing

Swissquote Bank SA
By Swissquote Bank SA

GBP/USD recent bounce stops. The pair is trading at 1.3970, heading along the 1.3960 range. The pair is currently trading at mid-March low. Hourly support and resistance are given at 1.3905 (23/02/2018 low) and 1.4233 (31/01/2018 high). The technical structure suggests shortterm decrease.

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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