Indicator analysis. Daily review for the GBP/USD currency pair on 23/12/2020

Trend analysis (figure 1).

Today, from the level of 1.3357 (the closing of yesterday's daily candle), the market will try to continue moving up to reach the historical resistance level at 1.3481 (blue dotted line). If this level is tested, continue to work up with the target of 1.3563 which is the resistance line (red bold 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 1.3357 (the closing of yesterday's daily candle), the market will try to continue moving up with the target of the historical resistance level at 1.3481 (blue dotted line). If this level is tested, continue to work up with the target of 1.3563 which is the resistance line (red bold line).

Alternative Scenario: From the level of 1.3455 (the closing of yesterday's daily candle), the market will try to continue its upward movement in order to reach the historical resistance level at 1.3481 (blue dotted line). In the case of testing this level, work downwards with the target of 1.3382– 21 average EMA (black thin line).

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