EUR/GBP forecast for December 23, 2020

Looking at the chart on the weekly time frame, we see a big bullish trend with the potential to continue towards higher levels on the chart. The EUR/GBP pair increasingly visit levels above 0.92000 makings after pullbacks with a higher low. Then with the support of all three moving averages MA50, MA100, and MA200. If we see a pullback, we can expect it to be up moving averages. Technically, a strong bullish trend.
The picture is clearer to us on the daily time frame, and we see that the pair moves sideways in the channel between 0.89000 to 0.92000. Moving averages are mostly in the middle of that channel and are currently supporting the Euro. By setting the Fibonacci level, we see great support at a level of 50.0% with a break above 38.2%, which is now our first support along with moving averages.
The previous three candlesticks are with big wicks and during their time frame and based on that, there is a chance to see a pullback to safer support, and that can be psychological support at 0.9000.
The four-hour time frame graph shows us a drop from a maximum to 0.92150 to the current 0.90737 to moving averages. We can now pay attention to whether they show up as support or see a break below them.
By setting the Fibonacci level, we see that the pair is at 50.0% retracement and that it is now very important to monitor how the EUR/GBP will behave at that level. If we see a break below, our target is 0.90200; otherwise, we go up to 0.91270. The trend is currently bearish to better support.
EU chief negotiator for Brexit told EU ambassadors and members of the European Parliament’s Coordination Group for the UK at two separate briefings Tuesday that he could not indicate whether he would be able to reach an agreement on future EU-UK relations before Christmas.
Will continue until next week or withdraw altogether next year. Barnier offered a gloomy assessment. He said that there are gaps in fisheries and the so-called equal conditions, which determine how closely Britain is in line with the bloc and the implementation of any possible agreement.
The briefings raised strong suspicions among EU diplomats and MEPs that an agreement before Thursday morning, the last possible date by which EU diplomats say it can still be implemented before the end of the year, is still feasible. If no agreement is reached and implemented before January 1, the EU and the UK will withdraw under unfavorable World Trade Organization rules that would impose high tariffs and other export restrictions.