The GBP is range-bound during the first week of December, while the USD exhibits bearish momentum. This suggests a neutral to slightly bullish outlook for GBPUSD based on seasonality.
The GBP's COT RSI is also range-bound, indicating no strong directional bias.
LEIThe GBP Leading Economic Indicator (LEI) is decreasing, while the USD LEI is increasing. Global LEI is also rising, favoring USD strength and suggesting bearish pressure on GBPUSD.
Endogenous FactorsGBP endogenous factors are signaling a sell, adding to the bearish sentiment for GBPUSD.
Exogenous FactorsExogenous indicators for GBPUSD are also showing a decrease, further supporting a bearish outlook.
GBPUSD is forming an ABCD pattern and is currently moving toward point D. The 0.5 Fibonacci retracement level at point C is also coinciding with a 4-hour resistance, suggesting a potential reversal or slowdown at that level.
The combined analysis suggests a bearish bias for GBPUSD, with the 0.5 Fibonacci level and 4-hour resistance offering a critical point to consider for potential short entry.
Entry: 1.26520
SL: 1.27273
TP: 1.25769