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HomeFOREXGBP/USD Forecast Update - December 20, 2024

GBP/USD Forecast Update – December 20, 2024

The GBP/USD currency pair has found solid support at the previously breached resistance of the bearish channel, which suggests the potential for a continuation of the downtrend. This move is being influenced by the completion of a head and shoulders pattern, with the next bearish target now set at $1.2400.

The bearish outlook remains intact unless the pair breaks above the $1.2566 level, followed by a sustained move above $1.2605.

Expected Trading Range:

Support: $1.2390

Resistance: $1.2545

Trend Forecast: Bearish

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