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Riding downtrend channel.
(By Yann Quelenn)
• GBP/USD is pushing lower after topping at
1.3657 (20/09/2017 high). Hourly support is given
at 1.3155 (14/09/2017 low). Expected to show
continued bearish pressures within downtrend
channel.
• The long-term technical pattern is reversing.
The Brexit vote had paved the way for further
decline. Long-term support can be found at
1.1841 (07/10/2017 low). Long-term resistance
given around 1.35 is at stake and indicates a
long-term reversal in the negative trend. Yet, it is
very unlikely at the moment.
