Technical reasoning:
Fundamental reasoning:
- RSI & %R overbought
- Close to Bollinger resistance point
- MACD signal line about to cross downwards
- Close to highs set in May and October (stop set just above these)
Fundamental reasoning:
- The pound edged higher against the U.S. dollar and the euro on Dec 23rd , even after data showed that the U.K. economy grew less than initially expected in the third quarter. This indicates GBP strength, which the market expects to continue.