Pound Analysis (Daily Time Frame)
Based on last week’s analysis, GBP continued its decline to the 1.24867 area as mentioned and rebounded from that level.
- Main Scenario: Given the weak rebound and the candle’s rejection from its last low, it is expected that after some consolidation, the decline will continue.
- Alternative Scenario: If GBP can reclaim the 1.28115 high, it will soon see the 1.30443 area.
Pound Analysis (4-Hour Time Frame)
- Main Scenario: If the 1.24755 area is broken, the 1.23041 area will be waiting for GBP.
- Alternative Scenario: If the significant 1.26667 high is broken and stabilized above, GBP can move to the 1.28115 area.
Pound Analysis (15-Minute Time Frame)
- Main Scenario: Given the failure to break the 1.26118 range, it is expected that the 1.25381 area will be broken. If this area is broken, the 1.24786 range will be waiting for GBP.
- Alternative Scenario: If the above scenario does not occur and the 1.26118 high is broken, the 1.26667 and then 1.27174 areas will be the next targets for GBP. However, it should be noted that given the arrival of the last week of the calendar year, a range-bound market can also be expected.