Indicator analysis: Daily review on GBP/USD for January 16, 2020

Trend analysis (Fig. 1).

The price may continue to move up today with the target of 1.3080, the pullback level 38.2% presented in a red dashed line. If this line is reached, a continuation of work up with the target 1.3105, the resistance line presented in a red bold line.


Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

The price may continue to move up today.

A downward scenario is unlikely but quite possible. From level 1.3067, the 21 average EMA in a black thin line, work down with the target 1.2997, the support line presented in a white bold line.

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