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Forecast for GBP/USD on December 14, 2020


Last Sunday Prime Minister Boris Johnson and the head of the European Commission Ursula von der Leyen found an original way to prevent market panic by announcing December 31 as the last day of Brexit negotiations, that is, the last day before the UK's official exit from the EU on January 1. The pound's decline from last Friday fell slightly short of the target level of 1.3108. But now we are waiting for a second attempt, since today's opening happened with a gap. The Marlin oscillator did not respond well to this gap. Consolidate the downward trend below the MACD line at 1.3216.


The four-hour chart shows that today's growth stopped at the resistance of the MACD line. The Marlin oscillator has reached the border of the growth area and is ready to turn away from it by the first signs. At the same time, the price did not settle above the red balance indicator line, the morning growth is a correction in the downward trend. We are waiting for the gap to close with the price settling below the 1.3216 level .


The material has been provided by InstaForex Company -