GBP/USD analysis for December 20, 2018 - ConsultFX

GBP/USD analysis for December 20, 2018


Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.2706. Anyway, according to the M30 time – frame, I have found a fake breakout of the 2-day high and a bearish breakout of the 2H balance, which is a sign that buying looks limited. I also found price rejection from the upper Keltner band (resistance), which is another sign of weakness. My advice is to watch for selling opportunities. The downward targets are set at the price of 1.2639 and at the price of 1.2610.

The material has been provided by InstaForex Company -