GBPUSD

S1 1.2720 R1 1.2840
S2 1.2696 R2 1.2926
S3 1.2600 R3 1.3000

The UK’s GDP numbers were better than expected at 0.2% in November against previous month’s 0.1%. Currently the market focus turns on the UK Brexit vote. The probabilities are against PM May’s proposal and in such scenario the chance for a General election and second Referendum could rise.

Last Wednesday, President Carney said that the BOE will be prudent but not passive meaning that whatever the Brexit outcome might be the monetary policy is still on track.

Technical Analysis

The CCI is close to the oversold territory.

The RSI is close to the oversold territory.

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Christos Nikolaou

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