Midday update for GBPUSD 20-12-2018
Economies.com
2018-12-20 10:53AM UTC
The GBPUSD pair returns to rise and breach 1.2636 level, approaching 1.2700 barrier now, hinting the price head to achieve more gains and reactivate yesterday’s mentioned bullish trend scenario, but we will stay aside now until we get clearer signal for the next trend, which we will get through breaching 1.2725 resistance or breaking 1.2636 support.
Note that breaching the resistance will push the price to extend its gains and head towards 1.2800 followed by 1.2962 levels mainly, while breaking the support will press the price to decline again and target 1.2500 level initially.
Expected trading range for today is between 1.2600 support and 1.2800 resistance.
Expected trend for today: Depends on the above mentioned levels
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