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Indicator analysis. GBP/USD daily review on December 21, 2021

Trend analysis (Fig. 1)

GBP / USD will try to move up this Tuesday, from 1.3202 (closing of yesterday's daily candle) to 1.3264, which is the 14.6% retracement level (yellow dashed line). After that it will go up to 1.3324, which is the 23.6% retracement level (yellow dashed line).

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Fig. 1 (daily chart)

Comprehensive analysis:

Indicator analysis - uptrend

Fibonacci levels - uptrend

Volumes - uptrend

Candlestick analysis - uptrend

Trend analysis - uptrend

Bollinger bands - uptrend

Weekly chart - uptrend

Conclusion: GBP/USD will rise from 1.3202 (closing of yesterday's daily candle) to the 14.6 retracement level (yellow dashed line) at 1.3264, then go further up to 1.3324, which is the 23.6% retracement level (yellow dashed line).

There is a low chance that the pair will drop from 1.3202 (closing of yesterday's daily candle) to the support line (yellow bold line) at 1.3167, then move up to 1.3234, which is the historical resistance level (blue dotted line).

The material has been provided by InstaForex Company - www.instaforex.com

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