GBPUSD Daily Analysis – December 1, 2016

GBPUSD’s upward movement from 1.2302 extended to as high as 1.2540. Further rise is still possible and next target would be at 1.2600 area. Support is at 1.2400, a breakdown below this level will signal completion of the uptrend, then the following downward movement could bring price to 1.2000 area.

gbpusd chart