Technical analysis for GBP/USD on December 15, 2021

Trend analysis (pic. 1).

On Wednesday, the market from the level of 1.3228 (yesterday's daily candlestick close) will try to start moving upwards, aiming to reach the retracement level of 14.6% or 1.3264 (yellow dotted line). In case this level is tested, upward movement is possible with the target 1.3325, the retracement level of 23.6% (yellow dotted line).

Pic. 1 (daily chart).

Complex technical analysis:

- technical indicator analysis - up;

- Fibonacci retracement levels - up;

- trading volumes – up;

- candlestick analysis - up;

- trend analysis - up;

- weekly chart - up.

- Bollinger bands - up;

Conclusion:

Today, the pair will try to rise from the level of 1.3228 (yesterday's daily candlestick close) to reach the retracement level of 14.6% or 1.3264 (yellow dotted line). In case this level is tested, upward movement is possible with the target of 1.3325, a retracement level of 23.6% (yellow dotted line).

It is unlikely that the pair from the level of 1.3228 (yesterday's daily candlestick close) will continue downward movement to reach the lower fractal at 1.3167 (yellow dotted line). In case this level is tested, upward movement may start with the target of 1.3264, a retracement level of 14.6% (yellow dotted line).

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

from RobotFX