empty
21.12.2023 10:11 AM
GBP/USD analysis for December 21, 2023 - Potential for the further drop towards lower references

Technical analysis:

This image is no longer relevant

GBP/USD has been trading sideways today at the price of 1.2637 and I see potetnial for the downside breakout and downside continuation.

Due to the downside momentum in the background and RSI reading below 50 mark, I see potential for the further drop in case of the downside breakout of the tight triangle pattern.

Downside objectives are set at the price of 1.2595 and 1.2500

RSI oscillator is showing negative reversals and reading below 50 level, which is good sign for the potential downside continuation.

Key resistance is set at the price of 1.2677

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

Recommended Stories

Forecast for EUR/USD on June 20, 2025

On Thursday, the EUR/USD pair declined to the 76.4% corrective level at 1.1454, bounced off it, and turned in favor of the euro. It is still too early to conclude

Samir Klishi 11:43 2025-06-20 UTC+2

Forecast for GBP/USD on June 20, 2025

On the hourly chart, the GBP/USD pair consolidated below the support zone of 1.3425–1.3444, which suggested the potential for further decline in the British pound. However, following the Bank

Samir Klishi 11:30 2025-06-20 UTC+2

Forex forecast 20/06/2025: EUR/USD, USD/JPY, GBP/USD, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:25 2025-06-20 UTC+2

EUR/USD Forecast for June 20, 2025

EUR/USD In the past 24 hours since the uneventful Federal Reserve meeting, the markets have shed their anxiety and resumed the broader risk-on trend. Even government bond yields are easing

Laurie Bailey 07:16 2025-06-20 UTC+2

AUD/USD Forecast for June 20, 2025

AUD/USD Yesterday, the Australian dollar pierced the MACD line with a lower shadow and nearly tested the support level at 0.6446. This morning's price movement above the MACD line offers

Laurie Bailey 07:16 2025-06-20 UTC+2

GBP/USD Forecast for June 20, 2025

GBP/USD On Wednesday and Thursday, the British pound tried to consolidate below the support level 1.3433 but was unsuccessful. The price is rising steadily, aiming to break above the MACD

Laurie Bailey 07:16 2025-06-20 UTC+2

Trading Signals for GOLD (XAU/USD) for June 19-22, 2025: sell below $3,390 (21 SMA - 8/8 Murray)

Early in the American session, the XAU/USD is trading around 3,370, below the 21 SMA under bearish pressure. We believe a technical rebound could occur in the coming hours

Dimitrios Zappas 15:14 2025-06-19 UTC+2

Trading Signals for EUR/USD for June 19-22, 2025: sell below 1.1535 (21 SMA - 8/8 Murray)

The outlook remains negative for the euro, as rising oil prices could pressure the European currency. In turn, we could expect EUR/USD to reach the 6/8 Murray level at 1.1230

Dimitrios Zappas 14:57 2025-06-19 UTC+2

Forex forecast 19/06/2025: EUR/USD, USD/CHF, GBP/USD, Oil and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 13:52 2025-06-19 UTC+2

Technical Analysis of Intraday Price Movement EUR/GBP Cross Currency Pairs, Thursday June 19, 2025.

With the movement of the EUR/GBP price on its 4-hour chart moving above the WMA (21) which has a slope that is going upwards and the appearance of convergence between

Arief Makmur 11:45 2025-06-19 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback