FX.co ★ GBP/USD Indicator Analysis; Daily review for December 20, 2021

Trend analysis (Fig. 1).

The market may move up on Monday from the level of 1.3234 (closing of Friday's daily candle) with the target of 1.3264, the 14.6% retracement level (yellow dashed line). Upon reaching this line, the price may continue to move upward with the target of 1.3325, 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 - down;

- Weekly chart - up.

General conclusion:

The price may move up from the level of 1.3234 (closing of Friday's daily candle) with the target of 1.3264, the 14.6% retracement level (yellow dashed line). Upon reaching this line, the price may continue to move upward with the target of 1.3325, the 23.6% retracement level (yellow dashed line).

Alternative scenario: from the level of 1.3234 (closing of Friday's daily candlestick), the price may continue to move downward with the target of 1.3161, the support line (yellow bold line). Upon reaching this line, the price may start moving up.