British Pound Price Prediction – December 21
It is on the GBP/USD market operations financial recording book that the currency pair price hits resistance at 1.3300 after attempting to swing northward away from 1.3200. The market now trades around 1.3246 at a minute average percentage rate of about o.31 as of writing.
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 price hits resistance at 1.3300 while trying to surge to the upside from a near lower trading spot. The 14-day SMA trend line is underneath the 50-day SMA trend line, placing a resistant mark on the 1.3300 level. The upper bearish channel trend line drew closely alongside the smaller SMA indicator to back its positioning at the value line. The Stochastic Oscillators have crossed the lines at the range 80 to the south side. That signifies that the base coin may slip for a while again as traded with the counter currency.
Will the GBP/USD market go under more falling forces as the currency pair price hits resistance at 1.3300?
With the present technical trading outlook, it appears that the GBP/USD market may go under more falling forces as the currency pair price hits resistance at 1.3300. In addition to that assumption, the forces to the downside from that value line may be forthcoming in a sequential pattern while 1.3200 breaches down to give rooms the presumed loss journey of the market afterward.
On the downside of the technical analysis, an overhead-barrier trading zone seems to build between 1.3300 and 1.3400 levels to allow the GBP/USD short-position takers to get decent sell entries. As of now, a bullish candlestick is in the process of emerging beneath the lower value line mentioned earlier. And that signifies that sellers needed to hold on for a while. Several re-settling of price around the 1.3200 may in no time give room to a return of sustainable upswings.
In summary, the GBP/USD market operations may still experience a short line of downs before fully regaining its lost momentums afterward. The points between 1.3200 and 1.3100 may serve as instruments to determine when that scenario tends to materialize.
GBP/USD 4-hour Chart
The GBP/USD medium-time chart showcases that the currency pair price hits resistance at 1.3350 against the long-term chart’s value. The 50-day SMA trend line is above the 14-day SMA trend line. And they bend more southward to indicate that the market still trades under a depression. The Stochastic Oscillators have traveled northbound closely beneath the range of 80. They are currently facing resistance at 1.3250. If the market loses momentum again around that spot, the price will fall to the previous lower trading zone between 1.3200 and 1.3150 levels.
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