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Outlook Remains Fragile

GBPUSD TECHS
  • RES 4: 1.3698 High Nov 4
  • RES 3: 1.3607 High Nov 9
  • RES 2: 1.3514 High Nov 18 and a key resistance
  • RES 1: 1.3338/70 20-day EMA / High Nov 30
  • PRICE: 1.3222 @ 05:56 GMT Dec 10
  • SUP 1: 1.3163 Low Dec 08
  • SUP 2: 1.3138 1.0% 10-dma envelope
  • SUP 3: 1.3135 Low Dec 11 2020
  • SUP 4: 1.3083 3.0% Lower Bollinger Band

The GBPUSD outlook remains fragile after touching fresh YTD lows Wednesday at 1.3163. The move lower cements the downside risk and confirms a resumption of the downtrend. The focus is on a vol-band support at 1.3138 ahead of the Dec 11 2020 lows of 1.3135. Moving average conditions remain in bear mode, highlighting the current trend direction. Resistance to watch is at 1.3338, the 20-day EMA.

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