GBP/USD Indicator Analysis; Daily review for December 10, 2021

Trend analysis (Fig. 1).

The market may move up on Friday from the level of 1.3215 (closing of Thursday's daily candle) with the target of 1.3264, the 14.6% retracement level (yellow dashed line). After testing this level, the price may continue to move up with the target at 1.3324, the 23.6% retracement level (yellow dashed line).

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger lines - up;

- Weekly chart - up.

General conclusion :

The price may move up from the level of 1.3215 (closing of Thursday's daily candle) with the target of 1.3264, the 14.6% retracement level (yellow dashed line). After testing this level, the price may continue to move upward with the target at 1.3324, the 23.6% retracement level (yellow dashed line).

Unlikely scenario: from the level of 1.3215 (closing of Thursday's daily candle), the price may move up with the target of 1.3264, the 14.6% retracement level (yellow dashed line). After testing this level, the price may begin to move down with the target at 1.3167, the lower fractal (yellow dashed line).

The material has been provided by InstaForex Company - www.instaforex.com

from RobotFX