FX.co ★ Forecast for GBP/USD on December 16, 2019

GBP / USD

The British pound continues to grow after the strong momentum set on Friday. The growth goals are determined by the Fibonacci levels: 1.3443 (238.2%), 1.3590 (261.8%), 1.3650 (271.0%). Upon completion of growth, divergence may form in any of the indicated levels on the Marlin oscillator and the market, in turn, will reverse.

On the four-hour chart, the price rises above the lines of balance and MACD. On the other hand, the Marlin indicator is in the growth zone. Meanwhile, price growth in the range 1.3590-1.3650 is accepted as the main scenario. However, we consider growth to be speculative, which we talked about in previous forecasts, and here, it is recommended to reduce the risks when buying.