GBP/USD analysis for December 07, 2018 - ConsultFX

GBP/USD analysis for December 07, 2018


Recently, the GBP/USD pair has been trading sideways at the price of 1.2765. According to the M15 time – frame, I found out that price is trading above the daily pivot (1.2764), which is a sign that selling looks risky. I also found on the point and figure chart that there is a triple top formation created, which is another sign of strength. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.2826 (resistance 1) and at he price of 1.2875 (resistance 2).

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