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The GBPUSD breaks the support – Analysis - 18-12-2019
The GBPUSD pair continued its negative pressure to break the bullish channel’s support line and settles below it, which opens the way for more bearish correction on the intraday and short term basis, paving the way to visit 1.2920 level that represents 38.2% Fibonacci correction level for the rise measured from 1.1958 to 1.3514.
Therefore, the bearish bias will be suggested for today, noting that breaching 1.3150 will stop the expected decline and lead the price to regain the main bullish trend.
The expected trading range for today is between 1.3000 support and 1.3150 resistance.
The expected trend for today: Bearish
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