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GBPUSD : Bullish Trend Remain Intact in Long Term

GBPUSD : 4 Hour Chart

GBPUSD seems like currently testing a key support at 1.7057 on the 4 hour chart. Also there is a falling resistance trend line which will prevent the pair to move above it. The trend is signaling that the pair might break below this key support. The 50 day crossing below the 100 day SMA is also signaling a decline. But the decline may be for short term. We can check this by looking at the longer time frame that is Daily Chart.


GBPUSD : Daily Chart

On the Daily Chart, the long term trend seems uptrend according to the moving averages and a rising support trend line. The Bullish outlook would not fade away until the pair falls below the rising support trend line which will signal a reversal in the uptrend to downtrend.