December British Pound Futures a Buying Opportunity on More Price Strength
See on the daily bar chart for the December British pound futures that prices are in a fledgling uptrend as the bulls have gained some technical strength. See, too, that the Moving Average Convergence Divergence (MACD) indicator has recently produced a bullish line crossover signal, whereby the thick blue MACD line moved above the thin red “trigger” line. A move in prices above chart resistance at 1.6450 would give the bulls some fresh upside technical and it would also become a buying opportunity. The upside price objective would be 1.6800, or above. Technical support, for which to place a protective sell stop just below, is located at 1.6250.
