GBPUSD Daily Forecast Dec 18 2015


The GBPUSD maintained a bearish momentum yesterday, topped at the 1.5007 levels, and bottomed at the 1.4863 levels. This development leaves the pair targeting the 1.4760 levels, a halt is likely and a reversal may occur, however; a cut through the 1.4760 levels would open 1.4635 next, further down, support comes at the 1.4500 levels.

On the upside, resistance comes at the1.4950 levels ahead of the 1.5007 levels (main), a break will turn outlook neutral towards the 1.5140 levels before the next fall.

Conclusion: The GBPUSD continues to face downside threats below 1.5007 levels….

(Note: stability below 1.4895 will accelerate the expected bearish move)…


GBPUSD Daily Forecast Dec 18 2015