Core Viewpoint - December British pound futures are presenting a selling opportunity due to a confirmed price downtrend after hitting a six-week low [1][2]. Technical Analysis - The December pound futures have established a downtrend, with a critical support level at last week's low of 1.3325. A breach below this level would empower bearish sentiment and create a selling opportunity, targeting a downside price objective of 1.3000 or lower [3]. - Technical resistance is identified at 1.3475, where a protective buy stop should be placed just above [3]. Fundamental Analysis - Bank of England Deputy Governor Dave Ramsden advocates for reducing interest rates due to concerns in the U.K. labor market. He suggests that current interest rates are too restrictive, which could lead to a resurgence of inflationary pressures in the U.K. economy, negatively impacting the pound against the U.S. dollar [2].

Core Viewpoint - December British pound futures are showing a buying opportunity due to recent price strength, having reached a 2.5-month high and trending upwards, indicating a near-term technical advantage for bulls [1][2]. Group 1: Market Analysis - The recent Federal Reserve interest rate cut is seen as bullish for the British pound and bearish for the U.S. dollar, with U.S. economic data showing weakness while the U.K. economy appears to be stabilizing, which is favorable for British pound futures [2]. - A breakout above the chart resistance level of 1.3675 in December pound futures would empower bulls and create a buying opportunity, with an upside price objective of 1.4000 or higher [3]. Group 2: Technical Indicators - Technical support for the December pound futures is identified at the contract low of 1.3550, where a protective sell stop could be placed just below this level [3].