Indicator analysis. Daily review for the GBP / USD currency pair 17/11/2020

The pair on Monday, moving up, tested the pullback level of 61.8% at 1.3231 (blue dotted line) and went down, closing at 1.3192. Today, the upward movement may continue. News on the market is expected at 14:00 UTC (Pound) and 13:30 (Dollar)

Trend analysis (Fig. 1)

Today, the market will try to continue moving up from the level of 1.3192 (the closing of yesterday's daily candle) with the goal of 1.3231 which is a pullback level of 61.8% (blue dotted line). If this level is reached, continue working up with the target 1.3302 resistance line (white bold line).

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Figure 1 (daily chart).

Complex analysis:

  • Indicator Analysis – up
  • Fibonacci Levels – up
  • Volumes – up
  • Candle Analysis – up
  • Trend Analysis – up
  • Bollinger Bands – up
  • Weekly Chart – up

General conclusion:

Today, the price from the level of 1.3192 (the closing of yesterday's candle), will try to continue moving up with the goal of 1.3231 which is a pullback level of 61.8% (blue dotted line). If this level is reached, continue working up with the target 1.3302 resistance line (white bold line).

Unlikely scenario: Upward movement with a target of 1.3231 which is a pullback level of 61.8% (blue dotted line). If this level is reached, work down with the target of 1.3159 to roll back the level of 23.6% (red dotted line).

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