GBPUSD Price Analysis – December 20
GBPUSD maintained a positive tone last week, with sellers making a fresh attempt to continue selling beneath 1.3500 in the previous session. Meanwhile, the GBPUSD pair is up nearly 2.25% in the last week due to the pending Brexit trade.
Key Levels
Resistance Levels: 1.3750, 1.3700, 1.3624
Support Levels: 1.3482, 1.3400, 1.3313
GBPUSD Long term Trend: Ranging
GBPUSD is currently trying to find support on the 5 daily moving average around 1.3514 after a reversal from 1.3624 resistance. The rising moving average of 5 continues to support intact bullish price action. However, a convincing breach of the mentioned support can still accelerate the fall to the support zone of 1.3400.
In the long term, the focus remains on the growth side. A sustained breach beyond may validate a long-term bottom at 1.1409. An increase from there can be either a correction or the start of a long-term uptrend. In any event, the next aim is a 38.2% rebound from 2.1161 to 1.1409 at 1.5134.
GBPUSD Short term Trend: Ranging
The GBPUSD pair rose from the 1.2675 level last week and reached the 1.3624 level. But since a temporary high has formed there, the initial bias is neutral initially this week. On the other hand, a breakout of 1.3624 may aim for a 61.8% trend from 1.1409 to 1.3482 from 1.2675 to 1.3956 next.
In such a scenario, short-term sentiment may stay bullish as long as support level 1.3177 remains intact, in a steeper pullback scenario. Meanwhile, some subsequent sell-offs could leave the GBPUSD vulnerable to further slide beneath 1.3500 towards the 1.3400 congestion zone.
Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.