FX.co ★ Indicator Analysis. Daily review for the GBP/USD currency pair 12/18/20

Trend Analysis (figure 1).

Today, the market will try to continue going down from the level of 1.3577 (closing of yesterday's daily candle) with the target of 1.3530 at the support line (red bold line). When this line is reached, the price can continue to go down with the target of 1.3421 - 13 average EMA (yellow thin line).

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 - down

General Conclusion:

Today, the price will try to continue going down from the level of 1.3577 (closing of yesterday's daily candle) with the target of 1.3530 at the support line (red bold line). When this line is reached, the price can continue to go down with the target of 1.3421 - 13 average EMA (yellow thin line).

Alternative scenario: when going down and reaching the target of 1.3530 at the support line (red bold line), the price may start going up with the target of 1.3623 upper fractal (daily candle from 17.12.2020). When this level is reached, it will continue to go up to the target of 1.3677 at the rollback level of 76.4% (yellow dotted line).