GBPUSD Analysis 28.12.2018

The British currency fluctuated in a tight range, slipping towards the US session, as the session returned to a third session since December 10 against the US dollar amid a lack of economic data by the British Royal Economy. Following the economic developments and data that followed Thursday The largest economy in the world.

On the 22nd of December, the US Unemployment Claims fell by 1K to 216K compared to the previous week's reading and expectations of 217K. This month fell 4K to 1,701K, higher than expected at 1,675K.

This came in conjunction with the disclosure of housing market data and the release of house prices, which showed growth accelerated to 0.3% in line with expectations versus 0.2% in October, and before we see the consumer confidence reading for the month which reflected the contraction of the breadth to the value of 128.1 compared to 136.4 last November, worse than expectations of a contraction of the widening to 133.7.

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. He said the $ 5 billion financing of the wall was negotiable and he expressed confidence in Treasury Secretary Sevin Menuchin's remarks. The Federal Reserve raises interest rates at a rapid pace, as the government closes its sixth day in a row.

Technical Analysis

GBPUSD remains limited between 1.2636 and 1.2725 support, keeping our neutrality in place until one of these levels is breached to determine the next direction more accurately.

We will note that breaking the support will press the price to resume the main bearish trend with the next target at 1.2500, while breaching the resistance will stimulate the price to achieve positive targets extending to 1.2962.

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.