Indicator analysis. Daily review for the GBP/USD currency pair on 29/12/2020

Trend analysis (Figure 1).

Today, from the level of 1.3445 (the closing of yesterday's daily candle), the market will try to continue moving up with the target of 1.3481 which is the historical resistance level (blue dotted line). If this level is reached, work up with the target of 1.3622 upper fractal (red 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 – up
  • Weekly Chart – up

General Conclusion:

Today, from the level of 1.3445 (the closing of yesterday's daily candle), the price will try to continue moving up with the target of 1.3481 which is the historical resistance level (blue dotted line). If this level is reached, work up with the target of 1.3622 upper fractal (red dotted line).

Alternative Scenario: From the level of 1.3445 (the closing of yesterday's daily candle), the price will try to continue moving up with the target of 1.3481 which is the historical resistance level (blue dotted line). If this level is reached, work down with the target of 1.3299 which is a rollback level of 14.6% (red dotted line).

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