Indicator analysis. Daily review for the GBP/USD currency pair 09/12/2020

Trend analysis (Fig. 1).

Today, the market will try to start moving up from the level of 1.3352 (closing of yesterday's daily candle) in order to reach the resistance line of 1.3510 (red bold line). If this level is tested, further move up with the target of 1.3538 which is the upper fractal (blue 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 – up
  • Weekly Chart – up

General conclusion:

Today, from the level of 1.3352 (closing of yesterday's daily candle), the price will try to start moving up to reach the resistance line of 1.3510 (red bold line). If this level is tested, further work up with the target of 1.3538 which is the upper fractal (blue dotted line).

Alternative scenario: From the level of 1.3414 (closing of yesterday's daily candle), the price will try to continue moving up to reach the resistance line of 1.3510 (red bold line). If this line is tested, further work down with the target of 1.3411 which is the pullback level of 14.6% (blue dotted line).

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