GBP/USD Market Holds Positions at 1.3200

British Pound Price Prediction – December 14
The GBP/USD market holds positions at 1.3200, close to the upper bearish channel. The currency pair price now trades around 1.3211 at a percentage rate of about 0.02 negative.

GBP/USD Market
Key Levels:
Resistance levels: 1.3300, 1.3400, 1.3500
Support levels: 1.3100, 1.3000, 1.2900

GBP/USD – Daily Chart
The GBP/USD daily chart reveals that the currency pair market holds positions at 1.3200, close to the upper bearish channel drawn underneath the trend lines of the SMAs. There is a space separating the indicators as the 14-day SMA is underneath the 50-day SMA. The Stochastic Oscillators are swerving the lines northbound close beneath the range of 80. That signifies that the bearish momentum has not run to an end.
Will the GBP/USD trade continue to decline as the currency market holds positions at 1.3200?
Indicators signify that the GBP/USD trade operation will continue to decline for a while as the currency pair market holds positions around 1.3200. It appears that the market may soon start to lose the stance to the downside to re-energize around a lower-trading axis beneath the value line. However, in the process of having the pair pushes up against the upper bearish trend, the resistance at 1.3300 may breach afterward.

On the downside of the technical analysis, the GBP/USD market sellers needed to revert against pressures capable of plugging the currency pair business economy into a full-fledged bullish run. A sudden emergence of fake breakout at 1.3200 will allow sellers to regain market control. In achieving that scenario, traders should back their sell entries with price action.

Summarily, It somewhat still appears that the GBP/USD may go more underselling pressures as the currency pair market holds positions at 1.3200 beneath trend lines of the SMAs under the settings of the long-term run basis.
GBP/USD 4-hour Chart
The GBP/USD medium-time chart showcases that the currency pair market holds positions at 1.3200. The 50-day SMA trend line is above the 14-day SMA trend line. The bearish channels drew as the upper trend line aligned closely alongside the smaller SMA indicator. The Stochastic Oscillators have slightly dipped past the range of 20 into the oversold region. That suggests the possibility that the market is due for making upswings. But, a return force against any active upswing may lead to the bearish-trending outlook continuation.


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