GBPUSD bull theme reinforce after general election

Intermediate
  • An emphatic majority for the Conservative party was predicted by the exit polls at 10.00 p.m. on Thursday 12th December, which has been confirmed as the results have come in.
  • This saw the Pound leap against the US Dollar above 1.35, with GBPUSD at its highest level since May 2018 and EURGBP plunging to levels not seen since 2016.

GBPUSD day trade outlook: Bull theme

A surge through 1.3500 to reinforce the prior intermediate-term bull shift, to keep the bias higher for Friday.

  • We see an upside bias for 1.3515; break here aims for 1.3555 and maybe 1.3595/3600.
  • But below 1.3400 opens risk down towards 1.3350 and maybe 1.3305/00.

4 Hour GBPUSD Forex Chart

GBPUSD chart

Steve Miley

Editor in chief

Steve Miley has 29 years of financial market experience and as a seasoned expert now has many responsibilities. He is the founder, Director and Primary Analyst at The Market Chartist, the Editor-in...continued

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