Forecast for GBP/USD on December 10, 2020

GBP/USD

The emergency talks between Boris Johnson and Ursula von der Leyer yesterday failed to overcome the remaining "serious differences" as expected, and ended only with the new "deadline" being postponed to Sunday.

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The pound did not manage to cover the previous growth before the end of the day, the main drop took place this morning, which at the moment reached 83 points. As a result, the target level of 1.3290 remained untouched, now we are waiting for the second attempt of the market to overcome it. Fixing below it opens a second target of 1.3180. The signal line of the Marlin oscillator touched the border with the territory of the downward trend. Technical pressure on the pound is increasing.

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On the H4 chart, the price briefly went above the balance and MACD indicator lines, returned under them and consolidated at the bottom. A similar action occurred with the Marlin oscillator. Now, we are anticipating a repeat of the price's attempt to overcome the support of 1.3290.

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