GBPUSD Daily Forecast: December 17
GBPUSD Forecast
The GBPUSD continued its bearish momentum last week bottomed at 1.2477 but closed a little bit higher at 1.2580. The bias is neutral in nearest term. Overall I remain bearish but the tweezer bottom and bullish engulfing pattern printed on daily chart as you can see on my chart below should not be underestimated especially if price able to break above 1.2700 key resistance, testing 1.2875 area. Immediate support is seen around 1.2530. A clear break below that area would retest 1.2485/77 key support area which need to be clearly broken to the downside to invalidate the tweezer bottom and bullish engulfing scenario and resume the major bearish trend.
Source: https://fxinstructor.com/blog/gbpusd-daily-forecast-december-17-6
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