Trend analysis (Fig. 1).
In January, the bulls may again try to move upwards with the first target of 1.2928, a rolling level of 23.6% (yellow dashed line).
Fig. 2 (monthly schedule).
Comprehensive analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - up;
- Trend analysis - up;
- Bollinger lines - down;
Conclusion of the complex analysis - possible top.
The total result of calculating the candle of the GBP / USD currency pair on a monthly schedule: the price is likely to have an upward trend with the absence of the first lower shadow (the first week of the month is white) for the monthly white candle and the presence of the second upper shadow (the last week is black). The first target of 1.2928 is the rolling level of 23.6% (yellow dashed line).
