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GBP/USD Decreasing

Swissquote Bank SA
By Swissquote Bank SA

GBP/USD is trading lower, approaching hourly support at 1.3712 (01/30/2018 low) and heading along the 1.3745 range. Hourly support at 1.3836 (06/02/2018) is now broken. The pair is currently trading at March low. Hourly resistance at 1.4097 (29/01/2018 high) remains. The technical structure suggests further short-term 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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