GBPUSD was trading weak for the past 12 days on account of Brexit uncertainty, and trade tensions between US and China. EU officials has approved the Brexit deal at the special EU summit. But uncertainty whether it will passed in parliament is a cause of concern. UK parliament will vote on Dec 11th. The pair hits low of 1.27338 and is currently trading around 1.27440.
On the higher side, near term resistance is around 1.2820 and any break above targets 1.2865/1.2925. The pair should trade above 1.29269 (Nov 22nd high) for further bullishness.
The near term support is around 1.2720 (Nov 15th low) and any break below targets 1.2695/1.26617.
It is good to sell on rallies around 1.2815-20 with SL around 1.2870 for the TP of 1.26650.
