FX.co ★ GBP/USD Indicator Analysis; Daily review for December 16, 2021

Trend analysis (Fig. 1).

The market may move up on Thursday from the level of 1.3259 (closing of Wednesday's daily candle) to the target at 1.3325, the 23.6% retracement level (yellow dashed line). When testing this level, the upward trend may continue with the next target at 1.3422, the 38.2% 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 1.3259 (closing of Wednesday's daily candle) to the target at 1.3325, the 23.6% retracement level (yellow dashed line). When testing this level, the upward trend may continue with the next target at 1.3422, the 38.2% retracement level (yellow dashed line).

Alternative scenario: from the level of 1.3259 (closing of Wednesday's daily candle), the price may move down to 1.3167, the lower fractal (yellow dashed line). When testing this level, the price may move up to 1.3264, the 14.6% retracement level (yellow dashed line).