GBPUSD Update, December 3, 2017

GBPUSD Daily 2017.12.03

Last week, November 27 – December 1, 2017, looking at the 1day chart and the 1week chart, we see gbpusd continue the uptrend making a bottom at 1.3220, Tuesday November 28, which is at or just above the middle of the bbands 1day. Showing strong momentum uptrend, will gbpusd still further continue the uptrend, with the top/resistance at 1.3656, now just near above. In the 1day chart, we now see the stoch(5,3,3) continue to show uptrend, while the macd also still show uptrend signal.

GBPUSD Weekly 2017.12.03

At this point, it is the view that gbpusd will further continue the uptrend because of the strong momentum shown, and although we now see the long-term downtrend trendline above as well as the top/resistance at 1.3656. For quite some time, about 1 year now, since the last long-term bottom at 1.1986, gbpusd has been on an uptrend channel, so having hit recently the lower side of the channel, gbpusd possibly target now the upper side of the channel.

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