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 solid uptrend and have just hit a fresh seven-month high. The bulls have good upside near-term technical strength and momentum to suggest prices can continue to trend sideways to higher for at least the near term. A move above chart resistance at this week’s high of 1.5822 would become a buying opportunity. The upside price objective would be 1.6250, or above. Technical support, for which to place a protective sell stop just below, is located at 1.5600.
