FX.co ★ Indicator analysis: GBP/USD daily review on December 27, 2022

Trend analysis (Fig. 1)

GBP/USD will attempt to move up from 1.2060 (closing of yesterday's daily candle) to the historical resistance level of 1.2213 (blue dotted line), followed by a rebound to the 23.6% retracement level at 1.2137 (yellow dotted line). Then, it will resume its upward price movement.

Fig. 1 (daily chart)

Comprehensive analysis:

Indicator analysis - uptrend

Volumes - uptrend

Candlestick analysis - uptrend

Trend analysis - uptrend

Bollinger bands - uptrend

Weekly chart - uptrend

Conclusion: GBP/USD will rise from 1.2060 (closing of yesterday's daily candle) to the historical resistance level of 1.2213 (blue dotted line), rebound to the 23.6% retracement level at 1.2137 (yellow dotted line), then resume the upward price movement.

Alternatively, the pair could climb from 1.2060 (closing of yesterday's daily candle) to the upper fractal at 1.2241 (daily candle from December 19, 2022), then begin moving downwards.