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HomeContributorsTechnical AnalysisGBP/USD Trading Below 1.36

GBP/USD Trading Below 1.36

Swissquote Bank SA
By Swissquote Bank SA

GBP/USD is trading below 1.36, breaking hourly support at 1.3712 (01/03/2018) and heading along the 1.3585 range. The pair is currently trading at mid-January low. Hourly support and resistance are now given at 1.3458 (11/01/2018 low) and 1.4097 (29/01/2018 high). The technical structure suggests further 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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