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Daily GBP USD Technical Analysis for December 5, 2016

GBP USD Technical Analysis for December 5, 2016

GBP USD Technical Analysis for December 5, 2016

Technical Analysis Overview

Prev. Close      1.2721

Open               1.2673

Day’s Range   1.2628 – 1.2734

52 wk Range   1.1450 – 1.5240

1-Year Return – 16.07%

 

Technical Support and Resistance

Daily candle stick GBP USD technical analysis shows that GBP/USD pair will find the immediate support at 1.2633. If, market breaks the first support then it will go for the following support to test. Following supports are 1.2598 and 1.2568. On the other side the market has immediate resistance at 1.2698. If, market breaks the primary resistance level then, market will go for the new resistance level 1.2728 and 1.2763.

Today, we have only GBP Services PMI data to be released in UK.

 

Along with technical analysis following economic event is very important to analyze the financial market properly.

GBP USD Important Economic Events: (GMT +2)

  1. 3:00pm GBP Services PMI

Read : Eur/USD Technical Forecast