GBPUSD Daily Forecast Dec 05 2018


GBPUSD: Consolidates With Downside Bias…

As long as 1.2822 resistance holds on a daily closing basis, the GBPUSD remains neutral with risk to the downside. Support comes at 1.2706 level. A daily closing below that level will restore the downside momentum and open 1.2615 level, further down, support comes at 1.2480 level ahead of 1.2377 level.

On the upside, resistance comes at 1.2822 level. Above that level sees recovery threats to 1.2963 level where rejection is very likely. However; a clear break above 1.2963 will turn the focus on 1.3054 level, further upside, resistance comes at 1.3129 level.

Conclusion: The GBPUSD remains exposed to the downside below 1.2822 level.

GBPUSD Daily Forecast Dec 05 2018