FX.co ★ GBP/USD analysis for December 06, 2018

Recently, the GBP/USD pair has been trading sideways at the price of 1.2741. According to the M15 time – frame, I found out that price is trading above the Ichimoku cloud and above Kijun- sen, Tenkan-sen and pivot (1.2733), which is a sign that buyers are in control. I also found on the point and figure chart that there is a double top formation created, which is another sign of strength. My advice is to watch for buying opportunities. The upward target is set at the price of 1.2795 (resistance 1).