empty
 
 
24.12.2021 03:46 PM
Technical analysis of GBP/USD for December 24, 2021

This image is no longer relevant

Overview :

The GBP/USD pair will continue to rise from the level of 1.3335. The support is found at the level of 1.3335, which represents the 61.8% Fibonacci retracement level in the H1 time frame. The price is likely to form a double bottom. Today, the major support is seen at 1.3335, while immediate resistance is seen at 1.3473. Accordingly, the GBP/USD pair is showing signs of strength following a breakout of a high at 1.3400. So, buy above the level of 1.3400 with the first target at 1.3435 in order to test the daily resistance 1 and move further to 1.3473. Also, the level of 1.3516 is a good place to take profit because it will form a double top. Amid the previous events, the pair is still in an uptrend; for that we expect the GBP/USD pair to climb from 1.3400 to 1.3516 today. At the same time, in case a reversal takes place and the GBP/USD pair breaks through the support level of 1.3400, a further decline to 1.3272 can occur, which would indicate a bearish market.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback