Analysis of GBPUSD 24.12.2019

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The price is below the moving average of 20 MA and MA 200, indicating the downward trend. 
MACD is below the zero levels.
The oscillator Force Index is below the zero levels.

If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.2900
• Take Profit Level: 1.2800 (100 pips)

If the price rebound from the support level, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.2960
• Take Profit Level: 1.3100 (50 pips)
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Risk Warning: Forex and CFD trading carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with CFD trading before deciding to trade. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.

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