GBP/USD Price Analysis: 1.3196 and 1.3312 are levels to watch out for in short-term
GBP/USD is currently trading unchanged on the day near 1.3245, having faced rejection above 1.33 twice in the past seven trading days. The stalled rally from Nov. 2 lows near 1.2850 will likely resume if the pair ends above 1.3312, invalidating the buyer fatigue signaled by the long upper wick attached to Wednesday's candle.
Alternatively, a close below 1.3196 would negate the buy-the-dip mentality sentiment signaled by Thursday's long-tailed candle and open the doors to deeper declines. The immediate support is located at 1.3105 (Nov. 13 low) followed by the Nov. 2 low of 1.2854.
GBP/USD Price Analysis: Prints ascending triangle on 4H, 1.3310/15 guards immediate upside
The GBP/USD pair fell during Asian trading hours, weighed by a dismal market mood and market talks, indicating that some EU leaders are pushing the European Commission to publish Brexit no-deal plans. Sources suggested that a deal must be clinched this weekend at the latest. The pair bounced from a daily low at 1.3204 following news that EU’s chief negotiator Michel Barnier canceled next week´s briefings to EU leaders, somehow suggesting that a trade deal may be closer. Nevertheless, it is pure speculation, although enough to push the pair towards the 1.3260 price zone.
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