01.12.202210:30 Forex Analysis & Reviews: Indicator analysis: Daily review of GBP/USD on December 1, 2022

Trend analysis (Fig. 1).

The pound-dollar pair may move upward from the level of 1.2056 (closing of yesterday's daily candle) to the upper fractal at 1.2152 (yellow dotted line). When testing this level, continued upward movement is possible with the target of 1.2213, 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 1.2056 (closing of yesterday's daily candle) to the upper fractal at 1.2152 (yellow dotted line). When testing this level, continued upward movement is possible with the target of 1.2213, the historical resistance level (blue dotted line).

Alternatively, the price may move upward from the level of 1.2056 (closing of yesterday's daily candle) to the upper fractal 1.2152 (yellow dotted line). When testing this level, a downward pullback is possible with the target of 1.2008, the 14.6% retracement level (blue dotted line).