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Volatile

GBPUSD TECHS
  • RES 4: 1.3499 1.0% 10-dma envelope
  • RES 3: 1.3478 High Dec 9
  • RES 2: 1.3412 High Dec 10
  • RES 1: 1.3384 Intraday high
  • PRICE: 1.3322 @ 05:54 GMT Dec 14
  • SUP 1: 1.3265 Intraday low
  • SUP 2: 1.3135 Low Dec 11
  • SUP 3: 1.3106 Low Low Nov 12
  • SUP 4: 1.3006 61.8% retracement of the Sep 23 - Dec 4 rally

GBPUSD remains volatile as Brexit trade discussions are extended once again. The pair is sharply higher this morning erasing some of last week's losses. A bearish theme remains intact though and further weakness is likely. Price last week pressured the 50-day EMA, currently at 1.3193. A clear break would strengthen the bearish case and open 1.3106, the Nov 12 low. On the upside, initial resistance is at 1.3384, today's intraday high.

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