empty
 
 
07.12.2020 04:54 AM
Forecast for GBP/USD on December 7, 2020

GBP / USD

Brexit negotiations stopped again over the weekend. At this time, France opposed the fishing rules of England and the negotiations have been extended until Tuesday. In any case, some draft should already be ready for signature by the participants of the EU summit on the 10th to 11th. If this is not the case, the UK will leave the EU in a tough scenario.

This image is no longer relevant

Based on the daily scale chart, the price is fixed below the level of 1.3480 and a double divergence is formed on the Marlin oscillator. Breaking the price of the nearest support of 1.3390 will open the target of 1.3300. Furthermore, the price will try to reach the Kruzenshtern line near the price level of 1.3210 (the top of January 2020 and January 2019).

This image is no longer relevant

According to the four-hour scale, the price is struggling with the support of the Kruzenshtern indicator line. After fixing under it, the price should also overcome the strong price level of 1.3390, after which the way to the first target of 1.3300 is opened.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback