31.12.202114:06 Forex Analysis & Reviews: Forecast for GBP/USD on December 31. The pound continues to grow even on the last day of the outgoing year

According to the hourly chart, the GBP/USD pair continued the growth process on Thursday. Bear traders tried to close under an upward trend corridor, which would have worked in favor of the US currency and the beginning of a decline in quotes in the direction of the Fibo level of 38.2% (1.3418), but they did not succeed from this. Perhaps another attempt will be made today. But the rebound from the lower border of the corridor worked in favor of the British and the resumption of growth in the direction of the corrective level of 61.8% (1.3576). Trading volumes on December 31 are very low, but it's always like this for the New Year. Most traders have already left the market. There is no information background now. Yesterday, a report on the number of applications for unemployment benefits was released in America, which turned out to be better than the forecasts and expectations of traders. But this did not help the US currency, as the British continued to grow for most of the day. On the last day of the outgoing year, I would like to say that, probably, it was the UK that was the headliner of this year. A lot of interesting things have happened in the UK, starting with Brexit, ending with Scotland's desire to secede from the United Kingdom, and scandals involving Boris Johnson. Britain is also facing a fuel crisis and a shortage of workers and employees in many areas of the economy. The year ends for the country with conflicts with the European Union based on the Northern Ireland Protocol, as well as with France based on migration and fishing issues. All these topics are postponed to 2022 since the parties have not come to any consensus. However, the negotiations on the part of Britain next year will no longer be led by David Frost, who resigned a couple of weeks ago. Well, to top it all off, Britain has the largest number of diseases with the new omicron strain among all EU countries.

On the 4-hour chart, the pair still secured above the corrective level of 50.0% (1.3457). As a result, the growth process can now be continued in the direction of the next corrective level of 38.2% (1.3642). The "bearish" divergence has been canceled. Fixing quotes below the 50.0% level will work in favor of the US currency and the beginning of a fall in the direction of the Fibo level of 61.8% (1.3274). Especially if the hourly chart closes under an upward trend corridor.

News calendar for the USA and the UK:

There is not a single interesting entry in the calendar of economic events in the UK and America on Friday. Thus, today the information background will not have any effect on the mood of traders. I don't expect a strong pair growth today. It will be enough for December 2021, perhaps.

GBP/USD forecast and recommendations to traders:

I recommend new sales of the pound if there is closure under the upward trend corridor on the hourly chart with targets of 1.3418 and 1.3319. I recommended buying the British if there is a new rebound from the lower border of the corridor with the targets of the levels of 1.3497 and 1.3576. The first one has been worked out and overcome, now purchases can be held with a target of 1.3576.