GBP/USD continues declining, breaking hourly support at 1.4023 (30/01/2018 low) and heading along the 1.3980 range. Hourly support and resistance are now given at 1.3905 (23/02/2018 low) and 1.4278 (02/02/2018 high). The technical structure suggests further short-term decrease.
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).