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Dec 16, 2024

GBP/USD chart on the hourly time frame

GBP/USD chart on the hourly time frame

The GBP/USD price traded with noticeable negativity in the past sessions to approach our expected target at 1.2566, and we expect the bearish trend to continue to break this level and pave the way to achieve additional negative targets extending to 1.2500.

From here, the bearish trend will remain valid and effective for the coming period, taking into account that breaching 1.2735 will stop the bearish wave and push the price to recover again.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
1.26448
1.26412
1.26390
1.26353
1.26317
1.26295
1.26258
EUR/USD chart on the hourly time frame

EUR/USD chart on the hourly time frame

EUR/USD was unable to hold for long below 1.0475, noting that breaching 1.0563 will stop the expected downtrend and lead the price to make a new upward correction in the short term.

We expect to witness negative trading during the upcoming sessions, and the targets start with breaking 1.0475 to open the way towards 1.0400 as the next negative station.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
1.05271
1.05208
1.05166
1.05104
1.05039
1.05000
1.04938
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