Indicator analysis. Daily review for GBP/USD pair on April 9, 2020

Trend analysis (Fig. 1).

On Thursday, the market from the level of 1.2384 (yesterday's closing of the daily candlestick) can continue to move up, with the target at 1.2518 - a pullback level of 61.8% (red dashed line). If this level is broken up, the upward movement will continue with the target at 1.2779 - a pullback level of 76.4% (red dashed line).

analytics5e8ec3256387d.jpg

Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - neutral;

- trend analysis - up;

- Bollinger Lines - up;

- weekly schedule - up.

General conclusion:

Today, the price's upward movement is possible with the target at 1.2518 - a pullback level of 61.8% (red dashed line).

An unlikely scenario: working down from the level of 1.2384 (yesterday's closing of the daily candlestick), with the target of 1.2306 - a pullback level of 50.0% (red dashed line).

The material has been provided by InstaForex Company - www.instaforex.com