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12.12.2019 11:14 AM
Indicator analysis: Daily review on December 12, 2019, on GBP/USD currency pair

Trend analysis (Fig. 1).

On Thursday, the price will continue to move up with the target at 1.3292 which is the resistance line presented in a black bold line and only after that the pair can start moving down with the first target at 1.3216 with the pullback level of 14.6% presented in a blue dashed line.

This image is no longer relevant

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

On Thursday, the price will continue to move up with the target at 1.3292 which is the resistance line in a black bold line and only after that the pair can start moving down with the first target at 1.3216 with the pullback level of 14.6% presented in a blue dashed line.

The later is unlikely but is still possible. So, from the level of 1.3229, work down with the first target 1.3110 which is the lower fractal.

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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