GBP/USD Daily Signals – December 26, 2017

Greenback weakens against sterling

According to a Wall Street Journal review of the President’s tour, President Trump is currently spending a 10-day Christmas vacation at the Florida luxury resort owned by him. He has also visited one of his company’s properties and he has been in office on nearly one-third of the days.Soon after signing a sweeping $1.5 trillion tax reform bill that critics said would excessively aid the wealthiest Americans, President Trump said the members of his exclusive Florida resort “You all just got a lot richer”.

During a dinner at Mar-a-Lago, the Winter White House, Trump made astatement possessing to his fellow one-precenters that the “biggest in history” tax reduction history he signed prior in the day would make them even wealthier.Since winning the White House last year as a jobs generator and a Christmas gift for the middle-class, the Chief Commander recommended the benefits of the tax reductions which were his major legislative achievement.

President Donald Trump continued to condemn against Andrew McCabe who is second-in-command at the FBI reportedly who has plans to retire in the New Year. Trump stated McCabe was “racing the clock to retire with full benefits”. Trump possessed of “Massive Alaska Drilling” and the “Repeal of the highly unpopular Individual Mandate” and further declared his poll numbers were strong, despite recent polls indicating him at record levels of criticisms through this phase of his presidency.

The GBP/USD pair was closed trading above the 1.3352 levels with a good support base underneath. This reinforces the expectations of continuing the bullish bias and provides signals for the price recovery in the upcoming session. The pair is supported by the stochastic positivity that appears clearly on the daily time frame around the 47.0 levels. The pair remains bullish for the moment with pair trading on rebound after testing barriers. This makes the trading to settle now at the support area that appears in the chart. Some consolidations would be seen with bullish momentum and a further rise is expected from current levels on the new found support area. The pair beginning of the new trend and its first main target is located at the 1.3403 level. The pair breaking at the 1.3371 level besides holding above it will push the price to resume the bullish patternand its next target located at the 1.3403 levels.


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