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24.12.202404:53 Forex Analysis & Reviews: GBP/USD Forecast for December 24, 2024

Relevance up to 21:00 2024-12-24 UTC--5

On Monday, the pound sterling fell by 33 pips, testing the support level at 1.2510. The Marlin oscillator continues to develop within two patterns: a descending red channel and a convergence with the price.

Exchange Rates 24.12.2024 analysis

A break below the 1.2510 level will enhance the influence of the descending channel and open the way to targets at 1.2447 and then 1.2367.

On the four-hour chart, the price appears to be briefly consolidating above the previously reached 1.2510 level. Calm market conditions yesterday prevented any decisive movements.

Exchange Rates 24.12.2024 analysis

The Marlin oscillator has shown a slight increase, yet it remains in bearish territory. A confirmed break below the 1.2510 support level would lead toward 1.2447.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2024
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