FX.co ★ GBP/USD analysis for December 26, 2023 - Potential for the further drop towards lower references

Technical analysis:

GBP/USD has been trading downside this morning and I found rejection of the key resistance in the background at 1.2750. There is the chance for the further downside movement.

Due to the rejection of the key resistance at the price of 1.2750, there is the chance for the further drop towards lower references.

Downside objectives are set at the price of 1.2660 and 1.2600

RSI oscillator is showing reading around 50, which is the sign of the indecision.

Key resistance is set at the price of 1.2750