09.12.201910:29 Forex Analysis & Reviews: Technical analysis for the week from December 9 to 14 on the GBP/USD currency pair

Trend analysis.

This week, the price will move up with the first target of 1.3302 - resistance line (black bold line). If reached, work down from the target of 1.3108 - a pullback level of 14.6% (red dotted line).

Fig. 1 (weekly chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - down;

- Candle analysis - up;

- Trend analysis - up;

- Bollinger Bands - down;

- Monthly chart - up.

The conclusion of the complex analysis - an upward movement.

The total result of calculating the candle of the GBP/USD currency pair according to the weekly chart: the price of the week is likely to have an upward trend with the absence of the first lower shadow of the weekly white candlestick (Monday - up) and the presence of the second upper shadow (Friday - down).

The first upper target of 1.3302 is the resistance line (black bold line). If reached, work down from the target of 1.3108 - a pullback level of 14.6% (red dotted line).

An unlikely scenario - from the level of 1.3166, work down to the target of 1.2989 - a pullback level of 23.6% (red dotted line).