empty
28.12.2020 10:47 AM
Trading recommendations for starters on GBP/USD and EUR/USD for December 28, 2020

The past trading week ended with a day off with respect to the Christmas celebration. But before this day, one of the most important events for the UK and Europe was held. The parties managed to agree on a trade agreement after Brexit, which became a commotion this year. It took four and a half years for a trade deal, so it's hard to believe that everything was over.

What happened on the trading chart?

The pound sterling broke up on expectations of a positive Brexit result, reaching the area of the local high of the medium-term upward trend. However, as buyers reached the 1.3600/1.3625 area, they failed to update the high. Perhaps, there were not enough trading volumes due to the early closure of trading floors or the news was already played by the market. After all, the quote only pulled back about 80 points from the high.

The euro/dollar, where market dynamics were not observed, showed a consistent fluctuation at the peak of the medium-term upward trend, without any sharp price changes. It is possible that traders are out for the holidays.

This image is no longer relevant

Trading recommendation for GBP/USD on December 28

Markets are open today, but some countries of the British Commonwealth – UK, Canada, Australia and New Zealand are celebrating Boxing Day. Due to the weekend, low trading volumes can be expected and so, traders will try to follow the negotiation process of a trade deal. Perhaps, there will be new details that will act as a catalyst for trading activity.

The market will remain in one place, conditionally in the range of 1.3520/1.3620, if nothing interesting appears in the media.

This image is no longer relevant

Trading recommendation for EUR/USD on December 28

Today, Europe has come to work, but no statistics worth noting are expected. Therefore, traders will discuss the Brexit deal and the timing of its ratification. The amplitude fluctuation of the price in the range of 1.2150/1.2275 will still remain the main movement, possibly until the end of the trading week.

This image is no longer relevant

Gven Podolsky,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD: Trading Plan for the U.S. Session on May 9th (Morning Trade Review)

In my morning forecast, I highlighted the 1.3283 level and planned to make market entry decisions based on it. Let's look at the 5-minute chart and analyze what happened

Miroslaw Bawulski 19:05 2025-05-09 UTC+2

EUR/USD: Trading Plan for the U.S. Session on May 9th (Review of Morning Trades)

In my morning forecast, I drew attention to the 1.1257 level and planned to base entry decisions around it. Let's look at the 5-minute chart and analyze what happened there

Miroslaw Bawulski 19:01 2025-05-09 UTC+2

What to Pay Attention to on May 9? A Breakdown of Fundamental Events for Beginners

There are no macroeconomic events scheduled for Friday. Fundamental developments will also be limited, but it's entirely unclear which factors influence price formation. The pound and the euro had reasons

Paolo Greco 06:19 2025-05-09 UTC+2

How to Trade the GBP/USD Pair on May 9? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of GBP/USD On Thursday, the GBP/USD pair continued its choppy decline within the sideways channel and failed to break out, unlike the EUR/USD pair

Paolo Greco 05:55 2025-05-09 UTC+2

How to Trade the EUR/USD Pair on May 9? Simple Tips and Trade Analysis for Beginners

Analysis of Thursday's Trades 1H Chart of EUR/USD On Thursday, the EUR/USD currency pair unexpectedly exited the sideways channel where it had been trading for three weeks. This occurred during

Paolo Greco 05:55 2025-05-09 UTC+2

Trading Recommendations and Analysis for GBP/USD on May 9: The Pound Remains Unshaken

On Thursday, the GBP/USD currency pair continued trading within the sideways channel, visible in the hourly timeframe. Two central bank meetings — each of which could be considered favorable

Paolo Greco 04:05 2025-05-09 UTC+2

Trading Recommendations and Analysis for EUR/USD on May 9: Everything Eventually Comes to an End

The EUR/USD currency pair exhibited a particularly interesting trend on Thursday. As a reminder, the FOMC meeting results were announced Wednesday evening, and we once again considered them hawkish. It's

Paolo Greco 04:05 2025-05-09 UTC+2

GBP/USD: Trading Plan for the U.S. Session on May 8th (Review of Morning Trades)

In my morning forecast, I focused on the 1.3286 level and planned to base market entries from it. Let's look at the 5-minute chart and analyze what happened. A breakout

Miroslaw Bawulski 19:22 2025-05-08 UTC+2

EUR/USD: Trading Plan for the U.S. Session on May 8th (Review of Morning Trades)

In my morning forecast, I focused on the 1.1269 level and planned to make market entry decisions from it. Let's take a look at the 5-minute chart and analyze what

Miroslaw Bawulski 19:19 2025-05-08 UTC+2

How to Trade the GBP/USD Pair on May 8? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD The GBP/USD pair showed no notable movements on Wednesday. After Jerome Powell stated the need for more time to assess the full

Paolo Greco 06:05 2025-05-08 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.