gbpusdTrading Outlook

Gbpusd: Monthly forecast/Important Levels.

Putting into context!

It is quite interesting to observe that the British pound has rallying during the last 2 weeks of December 2019.

It may be attributed to various factors like Brexit, winning Election by UK PM and having a clear majority.

Notably, the pair hasn’t had discounted or pull back which to us is inevitable sooner than earlier.

So we would expect a healthy pullback for getting the attention of major buyers as well as profit-taking by current buyers.

Preference for the month!

On the above-said reasons we believe to look initially for selling so sell the pair below. 1.3221 with the strict stop loss of around. 1.3600 with the target of 1.27089/1.24073 region.

Alternative Scenario!

if we see a clear break of 1.3600 could open the way of 1.4031/1.4347.

Wishing you a very prosperous new year and healthier month for trading