FX.co ★ Daily analysis of GBP/USD for December 23, 2016

The pair did not stay calm during Thursday and it managed to consolidate below the 1.2318 level. That move is opening the door to test the demand zone of 1.2249 and GBP/USD is moving around the lower band of Bollinger. If we see a breakout below 1.2249, it can plunge to test the support zone of 1.2185. The MACD indicator is entering negative territory.

H1 chart's resistance levels: 1.2318 / 1.2390

H1 chart's support levels: 1.2249 / 1.2185

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2249, take profit is at 1.2185 and stop loss is at 1.2312.