FX.co ★ Indicator analysis: Daily review on December 4, 2019, on GBP / USD currency pair

Trend analysis (Fig. 1).

On Wednesday, the price may begin to roll back down with the first target 1.2977, the support line presented in a red bold line. If this level is broken, the continuation of the downward movement to the retreating level of 23.6% is equivalent to 1.2954, presented in a red dashed line. But there is a high probability that the price will go up from the level of 1.2977.

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

On Wednesday, the price may begin to roll back down with the first target 1.2977, the support line presented in a red bold line. If this level is broken, the continuation of the downward movement to the retreating level of 23.6% is equivalent to 1.2954, presented in a red dashed line. But there is a high probability that the price will go up from the level of 1.2977.