FX.co ★ Trading Signal for GBP/USD for December 23 - 24, 2020

The GBP / USD pair at the opening of the American session is trading above the 200 EMA and above the 21 SMA, with upward force in 1 hour charts, as long as the pair remains above these levels is likely there is a bullish move for the next few hours.

In the 1 hour chart you can see that the GBP / USD has not yet covered the Gap that it left in the opening of negotiations this week, it is likely that we will see a strong bullish momentum, only if it remains above the EMA of 200.

On the contrary, a break below 1.3355, below the yellow zone that we have indicated on the chart, we could expect a downward movement to the level of 1.3305 and 1.3183.

The eagle indicator is showing a bullish signal, reaching overbought levels, we could expect the GBP / USD to cover its GAP at 1.3530 and then a bearish retracement may occur to the level of 1.32.

Our recommendation is to buy only if the pair remains above the 21 SMA and 200 EMA on 1 hour charts, above these levels we can expect bullish momentum to the resistance of 1.3549 7/8 murray zone.

We invite you to review our GBP / USD signal where we analyze the bullish pattern.

Trading tip for GBP/USD for December 23 – 24

Buy above 1.3420 (EMA 200 and SMA 21) with take profit at 1.3549 (GAP) an 1.3670 (8/8 of murray), Stop below 1.3380.

Buy if the pair rebound around 1.3375 (trend line) with take profit at 1.3549( GAP and 7/8), stop los below 1.3340.

Sell if breaks 1.3355 (Below SMA 21), with take profit at 1.3305 (5/8) and 1.3185, stop loss above 1.3390.