FX.co ★ Indicator analysis. GBP/USD daily review on December 6, 2021

Trend analysis (Fig. 1)

GBP/USD is likely to climb this Monday from 1.3229 (closing of the Friday's daily candle) to the 14.6% retracement level (yellow dashed line) - 1.3287. Then, it will move further up to 1.3344, the 23.6% retracement level (yellow dashed line).

Fig. 1 (daily chart)

Comprehensive analysis:

Indicator analysis - uptrend

Fibonacci levels - uptrend

Volumes - uptrend

Candlestick analysis - uptrend

Trend analysis - uptrend

Bollinger bands - uptrend

Weekly chart - uptrend

Conclusion: GBP/USD will rise from 1.3229 (closing of Friday's daily candle) to the 14.6% retracement level (yellow dashed line) - 1.3287. Upon reaching it, the quote will continue climbing to 1.3344, which is the 23.6% retracement level (yellow dashed line).

There is a low chance that GBP/USD will decline from 1.3229 (closing of Friday's daily candle) to the lower fractal (yellow dashed line) at 1.3194, and then bounce back to 1.3223, which is the resistance line (yellow bold line).