GBP/USD’s Long Term Falling Trend Line

Technical Reports

The pair remains limited inside of 1.3026/3337 diapason. Trading stays neutral. Upside of recommencement will be restricted under 1.3337 resistance, leading to decline restoration. Following pivot points include: (S1) 1.3186; (P) 1.3232; (R1) 1.3279.

Breach of 1.3038 will expand the drop from 1.3651 towards a key support of 1.2773. Firm breach of 1.3337 will affirm ending of retreat from 1.3651 and extension of a medium term lift from 1.1946.

The pair has met a firm resistance from the long term falling trend channel. Corrective recoil from minimum 1.1946 has completed at 1.3651. Breach of 1.2773 will argue bearishness and align a test on 1.1946 minimum. Overcoming of resistance 1.3320 will resume the growth from 1.1946 for 38.2% retracement of 2.1161 to 1.1946 at 1.5466.