empty
21.12.2023 04:22 PM
Trading Signals for GBP/USD for December 21-22, 2023: buy above 1.2655 or sell at 1.2695 (8/8 Murray - 200 EMA)

This image is no longer relevant

Early in the American session, the British pound (GBP/USD) is trading around 1.2667, above the 200 EMA, and above the 21 SMA. We can see that the pound is bouncing above 1.26. GBP/USD is likely to continue its climb in the coming hours. The price could reach 8/8 Murray at 1.2695 and even the top of the downtrend channel around 1.2740.

The British pound is expected to continue rising in the coming hours but should face the top of the downtrend channel formed since December 19 on the H1 chart. If the pound fails to break this zone which coincides with 8/8 Murray (1.2695), it could be seen as an opportunity to sell with the target at 1.26.

On the other hand, a drop below 1.2654 (200 EMA) could favor a bearish movement. Hence, a drop below 7/8 Murray could take the pound to the psychological level of 1.25 and the instrument could even reach 6/8 Murray at 1.2451.

The market sentiment report shows that 52.10% of traders are buying the British pound. According to our contrarian strategy, this could be a negative signal for the pound. Therefore, any move near the resistance level of 1.2700 or towards 1.2750 could be seen as an opportunity to sell with the target at 1.25.

The eagle indicator is giving a neutral signal, so we could expect the British pound to trade within a range between 1.2695 and 1.2573 in the coming days.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

Recommended Stories

EUR/USD Forecast for May 13, 2025

The main event yesterday, which somewhat confused the markets, was the agreement between the U.S. and China to return to the mutual tariffs that were in place before April

Laurie Bailey 04:49 2025-05-13 UTC+2

GBP/USD Forecast for May 13, 2025

By the end of yesterday, the British pound declined by 129 pips, following a 1.43% increase in the dollar index. The support range of 1.3184–1.3208 was breached, and the movement

Laurie Bailey 04:49 2025-05-13 UTC+2

USD/JPY Forecast for May 13, 2025

The USD/JPY pair made a sharp and powerful move yesterday, covering more than three figures and precisely reaching the target level of 148.66, the low from last December. The trick

Laurie Bailey 04:49 2025-05-13 UTC+2

Trading Signals for BITCOIN for May 12-15, 2025: sell below $106,250 (200 EMA - 21 SMA)

Early in the American session, Bitcoin is trading around $104,250, above the 21st SMA and within the bullish trend channel formed on May 4th. We observe exhaustion. During the last

Dimitrios Zappas 17:34 2025-05-12 UTC+2

Trading Signals for EUR/USD for May 12-15, 2025: buy above 1.1080 (200 EMA - 6/8 Murray)

Early in the American session, the EUR/USD pair is trading around 1.1123, bouncing after reaching the bottom of the downtrend channel. We observe overbought conditions. At the opening of this

Dimitrios Zappas 17:33 2025-05-12 UTC+2

Forex forecast 12/05/2025: EUR/USD, GBP/USD, USD/CHF, USD/JPY, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 13:37 2025-05-12 UTC+2

EUR/USD. May 12. The Ukraine conflict may be resolved

Good day, dear traders! On Friday, the EUR/USD pair rose to the resistance zone of 1.1265–1.1282, rebounded, and reversed in favor of the U.S. dollar. The downward movement may continue

Samir Klishi 10:04 2025-05-12 UTC+2

GBP/USD. May 12. Trump's First Trade Deal

Good day, dear traders! On the hourly chart, the GBP/USD pair on Friday nearly completed a rebound from the 100.0% Fibonacci retracement level at 1.3205, with a reversal in favor

Samir Klishi 10:04 2025-05-12 UTC+2

Trading Signals for GOLD for May 9-12, 2025: sell below $3,361 (21 SMA - 7/8 Murray)

On the other hand, if the bearish force prevails, gold is expected to continue falling and could again test the 6/8 Murray level, which could serve as a good point

Dimitrios Zappas 15:01 2025-05-09 UTC+2

Forecast for EUR/USD on May 9, 2025

On Thursday, the EUR/USD pair rebounded from the 76.4% Fibonacci corrective level at 1.1338, turned in favor of the U.S. dollar, and fell below the support zone of 1.1240–1.1265

Samir Klishi 11:24 2025-05-09 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.