(11 JANUARY 2019)GBP/USD:Key resistance at 1.2780.

Pivot (invalidation): 1.2780

Our preference

Short positions below 1.2780 with targets at 1.2730 & 1.2705 in extension.

Alternative scenario

Above 1.2780 look for further upside with 1.2805 & 1.2820 as targets.

Comment

As Long as the resistance at 1.2780 is not surpassed, the risk of the break below 1.2730

remains high. 

(By Swissquote TRADING CENTRAL)