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 - 30 May
GBP/USD remains weak after breaking to the downside range defined by the support at 1.3503 (2008 low and 200d MA). Further weakness towards the support at 1.3223 is favored. Key support and resistance are given at 1.3068 (13/11/2017 low) and 1.3458 (11/01/2017 low. The technical structure suggests further downside.
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