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).
GBP/USD Daily Forecast - 18 May
GBP/USD is starting a bullish consolidation at the 1.3520 range. Hourly support and resistance are given at 1.3331 (19/12/2017 low) and 1.4097 (29/01/2018 high). The technical structure suggests short-term sideways trading moves.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most…
-
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures…
-
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports…
-
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…