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11.12.202309:18 Forex Analysis & Reviews: Indicator analysis: Daily review of GBP/USD on December 11, 2023

Trend analysis (Fig. 1).

The GBP/USD currency pair may move downward from the level of 1.2545 (closing of Friday's daily candlestick) to 1.2518, the historical resistance level (blue dotted line). From this level, a continued downward movement is possible with a target of 1.2478, the 38.2% pullback level (yellow dotted line). In the case of testing this level, the price may move up.

Exchange Rates 11.12.2023 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis – down;
  • Fibonacci levels – down;
  • Volumes – down;
  • Candlestick analysis – down;
  • Trend analysis – down;
  • Bollinger bands – up;
  • Weekly chart – down.

General conclusion: Today, the price may move downward from the level of 1.2545 (closing of Friday's daily candlestick) to 1.2518, the historical resistance level (blue dotted line). From this level, a continued downward movement is possible with a target of 1.2478, the 38.2% pullback level (yellow dotted line). In the case of testing this level, the price may move up.

Alternatively, the price may move downward from 1.2545 (closing of Friday's daily candle) to 1.2518, the historical resistance level (blue dotted line). From this level, the price may move up.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Stefan Doll,
Analytical expert of InstaSpot
© 2007-2025
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