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27.12.202117:28 Forex Analysis & Reviews: GBP/USD price analysis for December 27, 2021

Exchange Rates 27.12.2021 analysis

GBP/USD stays in a consolidation phase around 1.3400 on Monday heading into the American session. The cautious market mood could limit the pair's upside but no significant market action is expected ahead of the New Year holiday.

On the four-hour chart, the pair is moving sideways in a 50-pip range since December 23. Strong static resistance seems to have formed at 1.3340 and buyers are unlikely to show interest in the pair unless it managed to close a four-hour candle above that level. In case that happens, 1.3475 (static level) aligns as the next hurdle before 1.3500 (psychological level).

On the downside, 1.3320 (200-period SMA) and 1.3300 (psychological level, 50-period SMA) could be targeted if the pair drops below 1.3370 (lower limit of the range, former resistance) and flips that level into resistance.

*Analisis pasar yang diposting disini dimaksudkan untuk meningkatkan pengetahuan Anda namun tidak untuk memberi instruksi trading.

Jan Novotny,
Analytical expert of InstaSpot
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