GBPUSD Price Stays Still in Equilibrium

Market Analysis – December 25th

GBPUSD price stays still in equilibrium amidst the festive period. The GBPUSD currency pair is currently experiencing a period of uncertainty and a lack of decisive movement. Buyers have been unable to attract significant attention and change the narrative.

Despite attempting to breach the significant level at 1.26140, they have not been able to generate enough liquidity to drive the price further. The buyers’ impact during the festive season has been limited so far.

GBPUSD Key Levels

Resistance Levels: 1.27970, 1.26140
Support Levels: 1.24480, 1.23710

GBPUSD Long-Term Trend: Bullish 

However, it is worth noting that the GBPUSD pair has shown significant fluctuations throughout the year. There have been phases of both bullish and bearish dominance. In March, the pair experienced a bullish phase, starting from the significant level at 1.17930 and reaching 1.31240. However, sell traders subsequently took control, pushing the price closer to the 1.20000 market zone from July onwards.

The last quarter of the year was anticipated to be bullish, but the buyers have been struggling to make a significant impact. As the year draws to a close, the market may enter a period of consolidation. This could be due to market participants reassessing their positions and actions.

GBPUSD Short-Term Trend: Bullish 

Taking into account the Relative Volatility Index (RSI), it appears that buyers have not yet shown a strong response or exerted control. Given the approaching year-end, the market may remain in equilibrium for a while. This period of consolidation may allow market participants to evaluate their strategies and decisions.

You can purchase Lucky Block here.  Buy LBLOCK

Note: Learn2.trade 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.