in the Asian session after the previous week experienced a sharp decline after November manufacturing and service index data was released below market expectations. The Manufacturing PMI contracted to 48.2, while the Services PMI printed at 48.6, the lowest yield in more than three years and markets that began to doubt the promises of the conservative party.
During the move below the resistance level at 1.2865 GBPUSD has a chance to move down to test the support level of 1.2820, a further decline has the opportunity to move down to test the next support levels at 1.2800 and 1.2785.
However, if it consistently moves above the support level at 1.2800 GBPUSD there is a chance to move up to test the resistance level at 1.2860, further increase has a chance to sustain GBPUSD's rise to test the next resistance levels at 1.2880 and 1.2895.
Resistance: 1.2860, 1.2880, 1.2895
Support: 1.2820, 1.2800, 1.2785