Trading signals

GBP/USD

GBPUSD

Broad dollar’s weakness helped the pound to gain some traction on Friday. Traders will eye the UK November Manufacturing PMI today.

 

The main scenario is a break through 1.2950.

An alternative scenario assumes a bounce off the 1.2940 hurdle. 

 

Trading recommendations

 

If bulls can break the 1.2950 resistance, the market is set to climb towards the 1.3010 level.

The pound may decline to 1.2800 after a bounce off 1.2940.

 

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