FX.co ★ Candlestick analysis of the GBP/USD for December 3

On a 4-hour graph the GBP/USD is consolidating after it could not break through the support level of 1.5500.
The viewpoint is still bearish, since earlier the pair formed the combination of candlesticks Bearish Engulfing that indicates the decrease, confirmed further.
This combination of candlesticks developed after the currency pair could not break out the resistance level near 1.6085-1.6096, which means that the bulls did not manage to fixate here and the bears started to increase their influence.
The breakthrough of 1.5841 confirms this viewpoint.
In case the support level of 1.5500 is broken down the decline with the target to 1.5300 is expected.
It is recommended to close short positions if the resistance level of 1.5900 is broken out, as it will lead to increase to 1.6096.