GBP/USD Market Sets on a Recovery Movement

British Pound Price Prediction – December 28
It appears that the GBP/USD market sets on a recovery movement after beefing up from the 1.3200 support line. The currency pair trades between a high of 1.3442 and a low of 1.3428 at a minute negative percentage rate of 0.03.

GBP/USD Market
Key Levels:
Resistance levels: 1.3500, 1.3600, 1.3700
Support levels: 1.3300, 1.3200, 1.3100

GBP/USD – Daily Chart
The GBP/USD daily chart showcases the currency pair market sets on a recovery movement, having been able to breach the trend line of the smaller indicator to the north side. The 14-day SMA indicator is beneath the 50-day SMA indicator. The Stochastic Oscillators are in the overbought region with their lines closed. That signifies that the currency trade may soon encounter resistance around the trend line of the bigger indicator.
Will the GBP/USD trade surge further as the currency pair market sets on a recovery movement?
Surging higher further of the GBP/USD trade may now have to be on a lighter-moving force as the currency pair market sets on a recovery movement presently. A sustainable breakout at the 1.3500 resistance level is technically required to allow bulls to continue to dominate their presence in the currency operations.

On the contrary to the above upside technical analysis, the GBP/USD market bears will have to reposition against northward pushes around the 1.3500 level as they did between November 19the and 22nd trading sessions. When that same trading myth comes to pass, it would be safe to launch a sell order.

In summary, the GBP/USD market has reached another round of trading in an overbought zone, calling for a cautious exerting of positions. That said, two points are now in focus to determine the next possible direction. And, they are 1.3500 and 1.3400.
GBP/USD 4-hour Chart
The GBP/USD medium-time chart reveals that the currency pair market sets on a recovery movement. The 14-day SMA indicator is above the 50-day SMA indicator. The bullish trend line drew alongside the smaller indicator. The Stochastic Oscillators have briefly crossed the lines near underneath the range of 80. That is an indication the currency pair may soon experience a decline in its valuation for a while.


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