Forecast for GBP/USD on December 17, 2020


Yesterday, the British pound was influenced by two positive factors: a neutral release on the Federal Reserve meeting (unchanged) and hopes for an early conclusion of a trade deal between the UK and the EU. The price rose above the target level of 1.3495, and today it opened above it, now the 1.3680 target is open. We are not talking about the return of the upward trend, the target level can be reached by an upper strong shadow due to some positive factor with a subsequent price reversal from the specified area. But for now, growth and we are waiting for more information regarding Brexit negotiations.

The four-hour chart shows that the upward trend looks strong. The MACD line turns up, while the Marlin oscillator rises higher and higher and slightly retreats as part of its own release.

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