GBPUSD attempts to return to the channel – Analysis - 14-12-2017

The GBPUSD pair provided clear positive trades yesterday after 1.3295 level formed solid support against the price recent negative attempts, starting today with more rise to breach 1.3419 and attempt to hold above it, while it faces strong resistance formed by the previously broken support of the bullish channel that appears on the chart, located now at 1.3445.

Therefore, we prefer staying aside temporarily in order to monitor the price behavior according to the next trend keys represented by the mentioned resistance and 1.3390 support, as breaching this resistance will confirm the price return to the main bullish trend that its next target located at 1.3618, while breaking the support will put the price under the negative pressure again, which its targets begin at 1.3295 and extend to 1.3196.

Expected trading range for today is between 1.3350 support and 1.3550 resistance.

Expected trend for today: Neutral