GBP/USD Update – 12/12/2017 (10:00am) – by Arjun Lakhanpal

December 12, 2017 by

GBP/USD Update – 12/12/2017 (10:00am): On the charts, GBP/USD has again eased back to its 20 day ma at 1.3347, which it is starting to erode. There remains an upside bias above last weeks low at 1.3320. It has recently broken above the 2014-2017 downtrend and this has introduced scope to the 1.3658/71 September high and double Fibonacci retracement. Below 1.3320 should be enough to alleviate immediate upside pressure and allow for weakness back to the 1.3157 2016-2017 uptrend.