earlier in December GBPUSD reached the 30mn Support at 1.2481

from 16th Nov: GBPUSD remains in a weak position. A higher low above 1.2978, the minor 1/2R off August low would be first sign of strength.

GBPUSD 16th Nov: >>GBPUSD remains in a weak position. A higher low above 1.2978, the minor 1/2R off August low would be first sign of strength.<<

GBPUSD remains in a weak position. A higher low above 1.2978, the minor 1/2R off August low would be first sign of strength.

1.2978 is the 1/2R off the August low. GBPUSD is currently printing just bove this level in a stronger position – can it hold it? GBPUSD daily chart 2nd November

GBPUSD is in a weak position below the minor half range off the August low – suggests that low will be re-tested.

GBPUSD just probed above the major controlling price at 1.3200. This was quickly rejected keeping the chart in a weak LT location.   Monitor price relative to 1.3200. Price printing time above that level would put the chart in a stronger position. Speculators (leveraged money & asset managers) remain net short.