Trend analysis (Fig. 1).
On Tuesday, the price may continue to move down with the first target 1.3147 which is the retreating level of 23.6% presented in a red dotted line. If successful, the next lower target is 1.3050 which is the lower fractal.
Fig. 1 (daily chart).
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - down;
- Trend analysis - down;
- Bollinger Lines - down;
- Weekly schedule - down.
General conclusion:
On Tuesday, the price will continue to move down.
Another scenario is unlikely but possible. That is, to the level of 1.3147 which is a retracement level of 23.6% presented in a red dashed line, work down, to achieve this level, work up with the first goal 1.3350 the historical resistance level presented in a blue dashed line.
The material has been provided by InstaForex Company - www.instaforex.comvia Indicator analysis: Daily review on December 17, 2019, on GBP / USD currency pair
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