GPBUSD Analysis 27.12.2018

There is not change the movement of GBP/USD as the Sterling fluctuates in a tight range slippery during the US session against the US dollar amid a lack of economic data by the United Kingdom and following developments and economic data that followed Wednesday on the US economy, the largest economy in the world.

On the other hand, we followed the US S & P composite house price index's annual reading of 20, which showed a slowdown in growth to 5.0% from 5.2% in September, beating expectations of 4.8%. Rachmond Industrial shrank to a value of 8 versus growth at a value of 14 last November, contrary to expectations that indicated a growth to 16.

US President Donald Trump said on Tuesday that the government's closure would continue until a deal was secured to build a wall along the border with Mexico. The $ 5 billion financing of the wall was negotiable, and he expressed confidence in Treasury Secretary Sevan Menutchen's remarks. As the Federal Reserve raises interest rates at a rapid pace and comes amid the entry of the closure of the government for the fifth day in a row.

Investors are currently waiting for the US economy to read the Jobless Claims reading for the week ending December 22, which could reflect a 6K increase to 220K in the previous week's reading. This month, down by 5 thousand applications to 1,673 thousand in the previous weekly reading.

In conjunction with the release of housing market data, which may reflect the acceleration of house price growth to 0.3% versus 0.2% in October before we see new home sales, which may rise 4.0% to 566 thousand homes compared to a decline of 8.9% To 544,000 in October, leading to a reading of the consumer confidence index, which may indicate a contraction of the widening to 133.0 versus 135.7 last month.

Technical Analysis

GBPUSD continues to fluctuate between the pivotal levels of support 1.2636 and resistance at 1.2725 without being able to breach one yet. As noted in our recent reports, the price needs to confirm that one of these levels is breached to further define its next targets.

Therefore, our neutral position will remain so far, and to see the details of the expected targets of the breakthrough, please see our previous report.

The trading range for today is expected among 1.2580 support and 1.2725 resistance

The expected general trend for today: depends on the levels mentioned in the report