Forecast for GBP/USD on December 16, 2020


The British pound decided to hold off on its move to cover the opening gap of the week. The pound grew by 133 points yesterday as traders still believe in a Brexit deal. But until nothing happens, expectations remain as expectations, and this morning the price is falling again. The daily chart shows that the Marlin oscillator crossed the border of the growing trend and shows an intention to return.

The four-hour chart shows that the price is completely in an upward sentiment, but this sentiment is created within the uncertainty range of 1.3348-1.3495, the lower border of which is formed by the MACD line at H4. The price move below the lower level creates conditions for the price to completely close the gap with an attack on the daily MACD line at 1.3225. Overcoming this support opens a path for it to fall to 1.3108 (November 12 low) and below.

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