On Wednesday, the GBP/USD pair ended the trading day at the opening level of 1.4815.
Trading volumes remain low today, but the might increase during the publication of ECB Meeting Accounts and a series of indicators from the US. Tomorrow, financial markets are closed, and trading will resume on Monday, 4 January.
Support and resistance
The GBP/USD pair is trading within a narrow range between 1.800 and 1.4830. The price is in the lower part of a with the lower border near the level of 1.4770.
On the daily, weekly and monthly charts, OsMA and recommend short positions. On the 4-hour chart, the indicators show the pair will be trading flat. In general, the decline in the pair tends to continue.
After the breakdown of 1. 4800 , the price might move further towards 1.4750, 1.4600 (year lows).
Support levels: 1. 4800 , 1.4770, 1.4750, 1.4700.
Resistance levels: 1.4880, 1.4925, 1.4985, 1.5025, 1.5080, 1.5100, 1.5140, 1.5230.
Short positions can be opened from the current level with targets at 1. 4800 , 1.4750 and stop-loss at 1.4860.
Long positions can be opened from the level of 1.4870 with targets at 1.5000, 1.5050, 1.5100, 1.5120, 1.5190 and stop-loss at 1.4820.