SECURITY: Leavitt Comments on Iran & Venezuela

• RES 4: 1.3527 High Oct 1    
• RES 3: 1.3471 High Oct 17  
• RES 2: 1.3456 High Dec 16
• RES 1: 1.3452 61.8% retracement of the Sep 17 - Nov 4 bear leg
• PRICE: 1.3424 @ 16:19 GMT Dec 16
• SUP 1: 1.3342 Low Dec 12   
• SUP 2: 1.3284 50-day EMA
• SUP 3: 1.3180 Low Dec 2 
• SUP 4: 1.3125 Low Nov 26      

A bullish extension last week in GBPUSD confirmed a resumption of the current uptrend. Sights are on 1.3452 next (pierced), 61.8% of the Sep 17 - Nov 4 bear leg. Clearance of this hurdle would strengthen a bull theme and open 1.3527, the Oct 1 high. Initial firm support is seen at 1.3286, the 20-day EMA. A clear break of this average would highlight a bearish development and signal a possible reversal.

• The Wall Street Journal have published an article indicating that the White House consider China's new demand regarding a Panama Ports deal as unacceptable.
• "President Trump's push to loosen China's influence in the Panama Canal has hit a wall now that Beijing is demanding that China's largest shipping company get a controlling stake in a deal to sell dozens of ports to a BlackRock-led group."
• "The deal is now at an intractable impasse, people involved in the talks say. A senior Chinese official said that Beijing aims to make control of the ports a negotiating point in the U.S. and China's broader talks over trade and tariffs." (Wall Street Journal)

• RES 4: 1.1919 - High Sep 17 and a key M/T resistance   
• RES 3: 1.1848 High Sep 18 
• RES 2: 1.1813 76.4% retracement of the Sep 17 - Nov 5 bear leg
• RES 1: 1.1804 High Dec 16
• PRICE: 1.1769 @ 16:18 GMT Dec 16
• SUP 1: 1.1649 20-day EMA 
• SUP 2: 1.1591 Low Dec 2 
• SUP 3: 1.1556 Low Nov 26
• SUP 4: 1.1491 Low Nov 21 

A bull cycle in EURUSD remains intact and Monday’s gains reinforce this theme. The recent breach of key short-term resistance at 1.1656, the Nov 13 high and a bull trigger, highlighted a stronger reversal. Sights are on 1.1813 next, a Fibonacci retracement. Initial support to watch is 1.1649, the 20-day EMA and a pivot level. A clear breach of the EMA would be bearish and signal a possible reversal.