FX.co ★ Indicator analysis. Daily review for the GBP/USD currency pair 03/12/2020.

Trend analysis (Fig. 1)

Today, from the level of 1.3364 (the closing of yesterday's daily candle), the market can continue to move up with the target of 1.3450 which is the resistance line (red bold line). After testing this line, it is possible to work up with the target of 1.3479 which is the upper fractal (red dotted line).

Figure 1 (daily chart)

Complex analysis:

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

General conclusion:

Today, from the level of 1.3364 (the closing of yesterday's daily candle) the price can continue to move up with the target of 1.3450 which is the resistance line (red bold line). After testing this line, it is possible to work up with the goal of 1.3479 which is the upper fractal (red dotted line).

Alternative scenario: After moving up and reaching the resistance line at 1.3450 (red bold line), work downwards with the target of 1.3290 which is a pullback level of 14.6% (red dotted line).