FX.co ★ Indicator analysis of GBP/USD on December 14, 2023

Trend analysis (Fig. 1).

The GBP/USD currency pair may move upward from the level of 1.2614 (closing of yesterday's daily candle) to 1.2641, the 85.4% pullback level (red dotted line). Upon reaching this level, a continued upward movement is possible with a target of 1.2741, the historical resistance level (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

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

General conclusion: Today, the price may move upward from the level of 1.2614 (closing of yesterday's daily candle) to 1.2641, the 85.4% pullback level (red dotted line). Upon reaching this level, a continued upward movement is possible with a target of 1.2741, the historical resistance level (blue dotted line).

Alternatively, the price may move upward from the level of 1.2614 (closing of yesterday's daily candle) to 1.2641, the 85.4% pullback level (red dotted line). Upon reaching this level, a downward movement is possible with a target of 1.2582, the historical resistance level (blue dotted line).