Daily analysis of GBP/USD for December 22, 2017

GBP/USD is consolidating around the 200 SMA at H1 chart and it looks like we can expect some sideways moves for the rest of the year, as the markets are getting prepared to receive Christmas holidays and New Year Eve as well. The critical level of 1.3444 remains in place and it should be pierced in order to reach the 1.3516 level.


H1 chart's resistance levels: 1.3444 / 1.3516

H1 chart's support levels: 1.3303 / 1.3234

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3444, take profit is at 1.3516 and stop loss is at 1.3372.

The material has been provided by InstaForex Company - www.instaforex.com