empty
21.12.2023 04:22 PM
Trading Signals for GBP/USD for December 21-22, 2023: buy above 1.2655 or sell at 1.2695 (8/8 Murray - 200 EMA)

This image is no longer relevant

Early in the American session, the British pound (GBP/USD) is trading around 1.2667, above the 200 EMA, and above the 21 SMA. We can see that the pound is bouncing above 1.26. GBP/USD is likely to continue its climb in the coming hours. The price could reach 8/8 Murray at 1.2695 and even the top of the downtrend channel around 1.2740.

The British pound is expected to continue rising in the coming hours but should face the top of the downtrend channel formed since December 19 on the H1 chart. If the pound fails to break this zone which coincides with 8/8 Murray (1.2695), it could be seen as an opportunity to sell with the target at 1.26.

On the other hand, a drop below 1.2654 (200 EMA) could favor a bearish movement. Hence, a drop below 7/8 Murray could take the pound to the psychological level of 1.25 and the instrument could even reach 6/8 Murray at 1.2451.

The market sentiment report shows that 52.10% of traders are buying the British pound. According to our contrarian strategy, this could be a negative signal for the pound. Therefore, any move near the resistance level of 1.2700 or towards 1.2750 could be seen as an opportunity to sell with the target at 1.25.

The eagle indicator is giving a neutral signal, so we could expect the British pound to trade within a range between 1.2695 and 1.2573 in the coming days.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
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

AUD/USD Forecast for June 10, 2025

The Australian dollar has shown moderate growth of more than a figure over the past 10 days, but the Marlin oscillator's reluctance to follow this upward move is causing concern

Laurie Bailey 04:46 2025-06-10 UTC+2

Trading Signals for GOLD (XAU/USD) for June 9-12, 2025: sell below $3,350 (21 SMA - 7/8 Murray)

Early in the American session, gold is trading around 3,317, rebounding after reaching a low of 3,294 during the European session. On the H4 chart, gold could continue to rise

Dimitrios Zappas 15:23 2025-06-09 UTC+2

Trading Signals for EUR/USD for June 9-12, 2025: sell below 1.1415 (21 SMA - 6/8 Murray)

We believe the euro could continue to fall as a bearish continuation pattern is forming, but we should expect it to fall below 1.1400, which could then reach the bottom

Dimitrios Zappas 15:20 2025-06-09 UTC+2

EUR/USD. Analysis and Forecast

Today, the EUR/USD pair is attracting buyers, recovering part of Friday's losses amid a weaker U.S. dollar. From a technical perspective, the EUR/USD pair is currently showing resilience below

Irina Yanina 13:57 2025-06-09 UTC+2

Forecast for EUR/USD on June 9, 2025

On Friday, the EUR/USD pair declined to the support zone of 1.1374–1.1380, rebounded, and turned in favor of the euro. On Monday, a new upward movement began toward the 76.4%

Samir Klishi 13:53 2025-06-09 UTC+2

Forecast for GBP/USD on June 9, 2025

On the hourly chart, the GBP/USD pair continued its decline on Friday and reached the 161.8% Fibonacci correction level at 1.3520. A rebound from this level favored the British pound

Samir Klishi 13:45 2025-06-09 UTC+2

Forex forecast 09/06/2025: EUR/USD, GBP/USD, USD/JPY, 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 12:06 2025-06-09 UTC+2

EUR/USD Forecast for June 9, 2025

Moderately optimistic US employment data revived the dollar, causing it to rise by 0.44%. The euro dropped by 50 pips. A divergence with the stock market occurred as the S&P

Laurie Bailey 05:15 2025-06-09 UTC+2

GBP/USD Forecast for June 9, 2025

On Friday, as the US dollar index strengthened by 0.44%, the British pound dropped by 42 pips. However, the Marlin oscillator remains stable, supported from below by the zero line

Laurie Bailey 05:07 2025-06-09 UTC+2

USD/JPY Forecast for June 9, 2025

In the previous yen analysis, we mentioned that the 145.08 level serves as an intermediate barrier to the main target of 146.11. However, by this morning, the situation

Laurie Bailey 05:07 2025-06-09 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.