Daily Technical Analysis December 27th 2023

1. GBP/USD Analysis: 

News Summary: 

According to the Economic and Business Research Center, in the long run, the UK will become the best-performing major economy in Europe in the next 15 years, narrowing the gap with Germany and expanding its lead over France. UK GDP growth will be between 1.6% and 1.8% by 2038, helping the UK maintain its status as the world's sixth largest economy. The fundamentals of the UK economy remain very strong, and the broader strength of the UK services sector will drive economic growth.  

Trend Analysis: 

We can see GBP/USD found support near 48 hours moving average, but the MACD double line and energy bar began to shrink around zero axis on H4 chart. In the short term, as retailers deal with the high interest rate environment in the next few months, difficult consumer demand may put the pound under pressure. The sell limit could be employed, stop loss is compulsory.  

Today's Key Price Levels: 

Key Support Levels: [1.2600] 

Key Resistance Levels: [1.2830] 

Pivot Points [1.2800] 

2. Gold Analysis:  

News Summary:

 Gold edged higher as the final week of the year approaches. Price is closing to record highs and on track for its first annual increase in three years. Data show that US price pressures have eased, reinforcing expectations for multiple interest rate cuts in 2024. The FED’s preferred measure of inflation barely rose last month, and one even lagged policymakers' target.  

Trend Analysis: 

We can see gold fluctuated upward near 48 hours moving average, while the MACD double lines and energy column shrank near zero axis. The swap market shows that the probability of the FED cutting interest rate by March is more than 80%, which is good news for non-interest-bearing assets such as gold, the buy limit could be placed, stop loss is necessary.   

Today's Key Price Levels: 

Key Support Levels: [2040] 

Key Resistance Levels: [2088] 

Pivot Points [2050]