Forecast for GBP/USD for December 17, 2018

GBP/USD

On Friday, British Prime Minister Theresa may received a final response from European partners in the EU regarding the impossibility of revising the Brexit Treaty. Now she has to look for internal partners to put pressure on Parliament. The dollar index on Friday rose by 0.36%, the pound fell by 46 points. The price tested the support of the embedded trend line of the falling price channel, adjusted upwards, where it met the resistance of the balance line (red indicator) on the four-hour chart this morning. Also, the Marlin oscillator line on H4 has reached the border with the territory of growth, which further increases the probability of a downward trend reversal. As a result, we are waiting for the price to overcome the now slightly decreased support at 1.2524 and further decline to 1.2400. Overcoming the level will allow the price to fall to 1.2300.

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