GBPUSD Daily Analysis – December 12, 2018

GBPUSD extended its downside movement from 1.2927 to as low as 1.2479. Further decline is still possible and next target would be at 1.2400 area. Resistance is at 1.2640, only a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

GBPUSD 4-hour chart