December British pound futures a selling opportunity on more price weakness. See on the daily bar chart for the December British pound futures that prices have resumed a downtrend and the bears have regained momentum. See, too, that the Moving Average Convergence Divergence (MACD) indicator has just produced a bearish line crossover signal, whereby the thick blue MACD line crossed below the thin red “trigger” line. A move below chart support at last week’s low of 1.5941 would become a selling opportunity. The downside price objective would be 1.5300, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1.6200.
