empty
 
 
15.12.2020 04:56 AM
Forecast for GBP/USD on December 15, 2020

GBP/USD

The pound undertook a desperate gain yesterday on below average trading volumes, which ultimately turned the price to the downside. From a technical point of view, the price was unable to gain a foothold in the range of the struggle of interests on December 1-9 (1.3395-1.3495), when the volumes were also higher. The signal line of the Marlin oscillator continues to stay in the negative zone. We are waiting for the price to return to the support of the MACD line at 1.3225. Getting the pair to settle below the level opens the way to the Nov 12 low at 1.3108.

This image is no longer relevant

The four-hour chart shows that the price repeated the pattern with a false exit over the MACD line from December 9th. The same pattern is observed in the Marlin oscillator. As a result, we expect the price to fall to the designated target levels, especially since Monday's gap remains open.

This image is no longer relevant

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