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GBP/USD forecast for December 24, 2020

Looking at the chart on the weekly time frame, we see that the GBP/USD pair is in a bull’s swing and progresses to higher levels. At the bottom, we have the support of all three moving averages. The news that the Brexit agreement is almost finished and signed by the EU representatives and the UK pushes the pound up, and the weak dollar goes in favor of the pound. Technically, the pair could reach the previous high from 2018 at 1.43800 next year, so the bullish scenario is still active.GBP/USD
We see a strong bullish trend on the daily chart, and for now, there are no signs of a possible reversal of the trend. The GBP/USD pair also has good support for moving averages MA50 and MA100. A break was made above 1.35000, and we can only expect a continuation towards higher levels of 1.3700-1.38000.GBP/USD
On the four-hour time frame, we see the GBP/USD pair moving in a growing channel with support for moving averages MA50, MA100, and MA200. The pair GBP/USD will probably soon reach the upper edge of the canal at 1.37000. At this point, we can expect potential resistance.GBP/USD
These days, the news about the Brexit agreement dominates, so we will single out the following statements: Boris Johnson is expected to announce in a few hours that Great Britain has reached an agreement with the EU on trade and security after Brexit. Officials in Brussels are believed to be finalizing details of the agreement, which will take effect when Britain leaves EU trade rules next week.
Irish Foreign Minister Simon Coveney told RTE Radio that there were “some last-minute problems” due to the small letters of the agreement on fishing quotas, but the agreement was still expected later. The agreement would end the possibility for the two sides to introduce widespread import taxes – customs duties – on January 1, affecting prices.

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