GBPUSD Technical Outlook


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.

Key Quotes

  • 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

Disclaimer

This article “19 December GBPUSD Technical Outlook ” was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

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