GBP/USD MT: watch 1.4375(13.12.2019)

Pivot: 1.2700

Our preference: long positions above 1.2700 with targets at 1.3800 & 1.4375 in extension.

Alternative scenario: below 1.2700 look for further downside with 1.2270 & 1.2000 as targets.

Comment: the RSI is bullish and calls for further advance. The pair is rebounding and is breaking above a declining trend line in place since 2018 and above its 50-week moving average.

Supports and resistances:
1.5000 ***
1.4375 ***
1.3800 ***
1.3491 Last
1.2700 ***
1.2270 **
1.2000 ***