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GBP/USD: technical review

FBS

Long term

Strategically, the range of 1.3240 to 1.3330 has been capping the upside for GBP/USD since early 2018. That means, currently, the British pound is coming to test the two-year resistance against the USD. Will it break it? The USD has been weak lately, and the last several months saw it mostly lose strength against the GBP. But the British pound is facing Brexit and heavier-than-ever economic pressures because of the troublesome fundamental layout of the UK economy. Noting the expanding downside of the GBP/USD movement area, we may assume that is the GBP doesn’t manage to stay strong against the USD, it may go all the way down to 1.1350 and below to make yet another lower low. That would take months, though, so just keep that as a secondary scenario for the long-term horizon.

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FBS Review

Source: https://fbs.com/analytics/articles/gbp-usd-technical-review-26382
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