Indicator analysis. Daily review on GBP/USD for April 21, 2020

Trend analysis (Fig. 1).

Today, the bearish trend may continue from the level of 1.2446 (closing of yesterday's candle) with the first target of 1.2356 - a 23.6% retracement level (presented in a blue dashed line). If this level is broken down, the price may continue to move down with the target of 1.2175 - a 38.2% retracement level (presented in a blue dashed line).

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Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger Lines - up;

- Weekly schedule - down.

General conclusion:

Today, the price may continue to move down with the target at 1.2175 - a 38.2% retracement level (presented in a blue dashed line).

An unlikely bullish trend from 1.2356 - a 23.6% retracement level (presented in a blue dashed line) with a target of 1.2518 - a 61.8% retracement level (presented in a red dashed line). In case of breaking this level upward, the price may continue to move upward with the target at the upper fractal 1.2648 (presented in a blue dashed line).

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