FX.co ★ Forecast for GBP/USD on December 25, 2020

GBP/USD

The pound fell last night, when Boris Johnson and Ursula von Leyen finally confirmed the final agreement on the Brexit deal, blocking half of the growth of the first half of the day. This is a sign of what we have been talking about over the past few months - the British currency will fall regardless of the outcome of Brexit, whether it is with or without an agreement, since economic relations between the two regions will look worse in any case than before Brexit.

The daily chart shows that yesterday, the price has reversed from the upper limit of the price channel of the monthly timeframe. Getting the price to settle below the 1.3495 level will send the price to the nearest support at 1.3262 - this is the MACD line. Towards 1.3105, 1.3005 and deep below. Target levels will be adjusted in the course of price development.