GBP/USD: 1.25-Area May Prove To Be Crucial Price Level

And finally, the GBP/USD corrected south in the aftermath of the Bank of England’s rate hike. Still, the cable remains our problem child this month and we hope for some profitable movements to come in the days ahead. Bulls might jump in again at around 1.2490 since this is the price area of the lower trendline of the cable’s recent uptrend channel. Thus, the 1.2490-80 zone could lead either to a breakout or a pullback.

We wish you a happy weekend.

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Our trading ideas for today 12/5/23:

EUR/USD

Long @ 1.0965

Short @ 1.0910

GBP/USD

Long @ 1.2540

Short @ 1.2485

DAX® (GER40)

Long @ 15890

Short @ 15830

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

We wish you good trades!

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