Indicator analysis: Daily review on GBP/USD for January 24, 2020

Trend analysis (Fig. 1).

An upward movement is expected today with the target of 1.3183, the resistance line in a black bold line. In case of testing this line, work down with the target at the lower fractal 1.3097.


Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- 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. That is from level 1.3123, the retracement level of 14.6% presented in a blue dashed line, work down with a target of 1.3077, the retracement level of 38.2% presented in a blue dashed line.

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