Indicator analysis. Daily review for the GBP/USD currency pair on 14/12/2020

Trend analysis (Fig. 1).

Today, the market may continue to move up from the level of 1.3234 (the closing of Friday's daily candle) with the target of 1.3382 which is a pullback level of 61.8% (yellow dotted line). After testing this line, continue to work up with the target of 1.3442 which is a pullback level of 76.4% (yellow dotted line).

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Figure 1 (daily chart).

Complex analysis:

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

General conclusion:

Today, the price may continue to move up with a target of 1.3382 which is a pullback level of 61.8% (yellow dotted line). After testing this line, continue to work up with the target of 1.3442 which is a pullback level of 76.4% (yellow dotted line).

Alternative scenario: From the level of 1.3234 (the closing of Friday's daily candle), the price may continue to move up with the target of 1.3382 which is a pullback level of 61.8% (yellow dotted line). After testing this level, work downwards with the target 1.3307 – 21 average EMA (black thin line).

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