Get updated on the 19 December GBPUSD Technical Outlook as the 10-year US-UK bond yield differential indicates that the pair could drop.
19 December, GKFX –The short-term bias in the GBP/USD pair will be determined by the price action today.
A positive follow-through to yesterday’s inside day candle would indicate the pullback from 1.3550 (Dec. 1 high) has ended. The pair could then witness a bull flag breakout. On the other hand, negative price action today would confirm bearish continuation, i.e. revival of the sell-off from the Dec. 1 high of 1.3550.
- Inside day candle on Monday.
- Today’s candle to decide the trend.
- 10Y US-UK yield spread rises in GBP-negative manner.
That said, the 10-year US-UK bond yield differential indicates the pair could drop today. The spread rose to 125.15 basis points; the highest level since Apr. 10.
However, the spread may narrow in the USD negative/GBP positive manner if the US housing numbers disappoint expectations by a big margin.
19 December GBPUSD Technical Outlook
Support levels: 1.3380 1.3345 1.3310
Resistance levels: 1.3400 1.3435 1.3480
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