GBP/USD is showing a variety of trends

20 December, 2018

  • Prev Open: 1.26300
  • Open: 1.26079
  • % chg. over the last day: -0.17
  • Day's range: 1.26585 – 1.26657
  • 52 wk range: 1.2477 – 1.4378

GBP/USD is showing a variety of trends. The investors are waiting for the Bank of England meeting, where the regulator is expected to keep the current interest rate at 0.75%. You should open positions from the key levels of 1.26300 and 1.26800.

The Economic News Feed for 20.12.2018:

  • Retail Sales Volume Report (UK) – 11:30 (GMT+2:00);
  • Bank of England Meeting on Key Interest Rate (UK) – 14:00 (GMT+2:00);

The indicators do not provide precise signals, the price is testing 50 MA.

The MACD histogram is close to 0, there are no signals at the moment.

The Stochastic Oscillator is in the overbought zone, the %K line crosses the %D line. There are no signals at the moment.

Trading recommendations

  • Support levels: 1.26300, 1.25800, 1.25300
  • Resistance levels: 1.26800, 1.27300, 1.27700
  • If the price fixes below 1.26800, consider buying GBP/USD. The movement will tend toward 1.27300-1.27700.
  • Alternatively, the quotes can descend toward the round 1.26000.

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