FX.co ★ GBP/USD Indicator Analysis; Daily review for December 9, 2021

Trend analysis (Fig. 1).

The market may move up on Thursday from the level of 1.3199 (closing of Wednesday's daily candle) to the target of 1.3264 - the 14.6% retracement level (yellow dashed line). Upon testing this level, the upward trend may continue with the target at 1.3325 - the 23.6% retracement level (blue 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 1.3199 (closing of Wednesday's daily candle) to the target of 1.3264 - the 14.6% retracement level (yellow dashed line). Upon testing this level, the upward trend may continue with the target at 1.3325 - the 23.6% retracement level (blue dashed line).

Alternative scenario: from the level of 1.3199 (closing of Wednesday's daily candle), the price may move down to the target of 1.3167 - the lower fractal (yellow dashed line). Upon testing this level, the price may move up to work out the target at 1.3264 - the 14.6% retracement level (yellow dashed line).