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08.12.2022 09:45 AM
Indicator analysis of GBP/USD on December 8

Trend analysis (fig. 1).

Today, the pair declined to the target level of 1.2148 – 8 average EMA (blue thin line) from 1.2202 (the closing of yesterday's daily candlestick). When testing this level, the instrument may continue its upward movement to 1.2343 – the upper fractal (yellow dotted line).

This image is no longer relevant

Fig. 1 (daily chart).

Complex analysis:

- indicator analysis– up;

- Fibonacci levels – down;

- trading volumes – down;

- candlestick analysis – up;

- trend analysis – up;

- Bollinger lines – up;

- weekly chart-up.

Conclusion:

Today, the pair declined to the target level of 1.2148 - 8 average EMA (blue thin line) from 1.2202 (the closing of yesterday's daily candlestick). When testing this level, the instrument may continue its upward movement to 1.2343 – the upper fractal (yellow dotted line).

Alternatively, the price could fall to 1.2087 – 13 average EMA (yellow thin line) from 1.2202 (the closing of yesterday's daily candle). When testing this level, it may grow to 1.2343 – the upper fractal (yellow dotted line).

Stefan Doll,
Analytical expert of InstaForex
© 2007-2024
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