Indicator analysis. Daily review for the GBP/USD currency pair 12/22/20

Trend Analysis (figure 1).

Today, the market will try to continue going down from the level of 1.3462 (the closing of yesterday's daily candle) with the target of 1.3299 at the pullback level of 14.6% (red dotted line). If this level is reached, it will go up with the target of 1.3481 at the historical resistance level (blue dotted line).

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Figure 1 (daily chart).

Comprehensive Analysis:

  • Indicator Analysis - down
  • Fibonacci Levels - down
  • Volumes - down
  • Technical Analysis - down
  • Trend Analysis - down
  • Bollinger Bands - down
  • Weekly Chart - up

General Conclusion:

Today, the price will try to continue going down from the level of 1.3462 (the closing of yesterday's daily candle) with the target of 1.3299 at the pullback level of 14.6% (red dotted line). If this level is reached, it will go up with the target of 1.3481 at the historical resistance level (blue dotted line).

Unlikely scenario: from the level of 1.3462 (closing of yesterday's daily candle), it will try to continue going down with the target of 1.3299 at the pullback level of 14.6% (red dotted line). If this level is reached, it will continue to go down with the target of 1.3099 rolling back the level of 23.6% (red dotted line).

The material has been provided by InstaForex Company - www.instaforex.com