Weekly Price Action Setups & Key Levels | Dec 1 - 6

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GBPUSD – Bull Trend Running Strong
In last week’s market commentary article, we suggested looking for a breakout pullback trade at 1.6255 on a breakout and 4hr close above 1.6255. The pair did exactly that, closing above the level for 8hrs, then pulling back to 1.6257 giving it a brief kiss – then launching higher, now up over +160 pips so hopefully you profited from that as savvy price action traders did. Traders can look towards 1.6390 and 1.6321 on corrective pullbacks to get long. Bullish bias remains with daily closes above the 1.6255 aforementioned level.

AUDUSD – Bearish Trend Intact, Looking for Pullbacks
Now in its third leg of the current downtrend, the Aussie is still in a bull …

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