GBPUSD Daily Analysis – December 3, 2018

GBPUSD is facing 1.2725 support, a breakdown below this level would indicate that the downside movement from 1.3174 has resumed, then further decline towards 1.2500 could be seen. Near term resistance is located at the falling trend line on the 4-hour chart, only a breakout of the trend line resistance could signal completion of the downtrend.

GBPUSD 4-hour chart