The Pound is stabilizing its position

The British pound is stabilizing its position against the US dollar after some weakening in the first half of Friday trading. Support for the British currency is provided by positive statistics on business activity in the manufacturing sector of Great Britain. According to published data, PMI in November rose to 58.2, exceeding the previous value of 56.6.

Technical analysis: In the course of Thursday trading, the pair GBP/USD fixed above the resistance line of the rising channel on H1, which is a signal of strengthening of the uptrend in the short term. The main support levels are 1.3465; 1.3435. The resistance levels are 1.3550; 13585.

Fig. GBP/USD. The current price is 1.3492.

Alexander Sivtsov