GBP/USD Update – 11/12/2017 (09:30am) – by Arjun Lakhanpal

December 11, 2017 by

GBP/USD Update – 11/12/2017 (09:30am): The lows back in focus in GBP/USD.. The positive developments in the Brexit talks gave GBP a temporary boost last week so that the main resistance zone between 1.3509 (int. 76.4 %) and 1.3625 (int. 76.4 %/daily trend) came back into focus. Below, the risk of only performing a countertrend rally persists whereas above, 1.3711 and 1.3836 (50 %/pivot) would be back in focus. Particularly below 1.3509, the market remains at risk of breaking below 1.3344/20 (h. trend/pivot) which it has, which would bring 1.3157 (weekly trend) and key-supports at 1.3020 (int. 38.2 %) and at 1.2776 (Dec. 2016 high) back into focus.