GBP/USD forecast - page 127

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Pounds remain to continue under pressure before the UK parliament passes the Brexit deal, I’m expecting further downside towards 1.2700 level.
 
GBP/USD: The pound fell on Tuesday after warning that the agreement on Brexit is unprofitable for the UK. GBP/USD declined by 0.6% to 1.2753 after the US president announced that the Brexit agreement, signed by the British Prime Minister Theresa May seems to be an excellent deal for the EU that could lead to the termination of trade between the UK and the USA.
 
While Brexit news takes some time off and waiting for the critical date on 10th December, GBP/Usd has recovered some ground and consolidating higher ground which just below 1.2800 handles.
 
Gbp/usd made a signifficant rise today, gaining more than 100 points on its behalf and holding above the key resistance at 1.2810. If it manages to hold above this level, we could expect 1.2860 or even higher. On the flip side, going back to 1.2760 would resume the bullish scenario.
 


An up move further will generate good sell opportunities. 1.3000 is a big number for sell stops. Better to be on the sell side of Cable than buy. Cable should freefall once 1.2700 is broken.

 
The level of uncertainty is really high right now. I think I'll stay away until things clear up a bit.
 
Lack of new Brexit headlines keeps the Pound trading within the range under 1.2800 level, the pair continues under pressure and downside potential increase when the pair break below support level around 1.2720 handles.
 

My point of view if that is going to be bullish till 1.28300 

 

Here it goes..


 
Brexit uncertainties have weighed in on GBP/Usd, the pair has extended its consolidation movement to the lower ground, mid 1.2700's. While the pair remains bearish, the downside seems capped to 1.2700 level.
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