FX.co ★ Indicator analysis: Daily review of GBP/USD on December 19, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.2134 (closing of Friday's daily candle) to 1.2213, the historical resistance level (blue dotted line). When testing this level, continued upward movement is possible to 1.2253, the 14.6% retracement level (yellow dotted line). Upon testing this level, the price may continue to move up.

Fig. 1 (daily chart).

Comprehensive analysis:

• Indicator analysis - up;
• Fibonacci levels - up;
• Volumes - up;
• Candlestick analysis - down;
• Trend analysis - up;
• Bollinger bands - up;
• Weekly chart - up.

General conclusion:

Today, the price may move upward from the level of 1.2134 (closing of Friday's daily candle) to 1.2213, the historical resistance level (blue dotted line). When testing this level, continued upward movement is possible to 1.2253, the 14.6% retracement level (yellow dotted line). Upon testing this level, the price may continue to move up.

Alternatively, the price may move upward from the level of 1.2134 (closing of Friday's daily candle) to 1.2213, the historical resistance level (blue dotted line). When testing this level, a downward movement is possible to 1.2115, the 21-period EMA (thin black line). Upon testing this level, the price may move up.