GBPUSD Daily Analysis – December 21, 2018

GBPUSD is facing the resistance of falling trend line on the 4-hour chart once again. A clear break above the trend line resistance would indicate that the downside movement from 1.3174 had completed at 1.2475 already, then further rally towards 1.2900 could be seen. However, as long as the trend line resistance holds, the bounce from 1.2475 could be treated as consolidation for the downtrend from 1.3174, another fall towards 1.2400 is still possible after the consolidation.

GBPUSD 4-hour chart