Trend analysis.
In December, it is possible to move up with the target of 1.3011 - the upper fractal (red dotted line). In the case of overcoming this level, the next top target is the retracement level of 50% -1.3164 (blue dotted line).
Fig. 1 (monthly chart).
Indicator analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger Bands - up;
The conclusion of the complex analysis - the top is possible.
The overall result of calculating the candle of the GBP/USD currency pair according to the monthly chart: the price is likely to have an upward trend with the absence of the first lower shadow (the first week of the month - white) at the month-old white candles and the lack of the second upper shadow (last week - white).
The upper target of 1.3011 is the upper fractal (red dotted line). In the case of overcoming this level, the next top target is the retracement level of 50% - 1.3164 (blue dotted line).
An unlikely scenario is a downward movement with a target of 1.2608 - a 38.2% retracement level (red dotted line).
