Indicator analysis. Daily review for the GBP/USD currency pair on 28/12/2020

Trend analysis (figure 1).

Today, from the level of 1.3533 (the closing of Thursday's daily candle), the market can continue to move up with the target of 1.3623 upper fractal (red dotted line). Upon reaching this level, work up with a target of 1.3676 which is a pullback level of 76.4% (yellow dotted line). After testing this line, continue to work up with the target of 1.3944 which is a pullback level of 85.4% (yellow dotted line).

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Figure 1 (daily chart).

Comprehensive 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 can continue to move up with a target of 1.3623 upper fractal (red dotted line). Upon reaching this level, work up with a target of 1.3676 which is a pullback level of 76.4% (yellow dotted line). After testing this line, continue to work up with the target of 1.3944 which is a pullback level of 85.4% (yellow dotted line).

Alternative scenario: From the level of 1.3533 (the closing of the Thursday's daily candle) the price may continue to move up with the target at 1.3623 upper fractal (red dotted line). From this level, work down with a target of 1.3481 which is the historical support level (blue dotted line).

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