Indicator analysis. Daily review for the GBP / USD currency pair 19/11/2020.

Trend analysis (Fig. 1)

Today, from the level of 1.3264 (the closing of yesterday's daily candle) the market can continue to work down with the goal of 1.3117 which is a pullback level of 14.6% (red dotted line). After testing this line, continue working down with the target of 1.3159 which is a pullback level of 23.6% (red dotted line). When this level is reached, it is possible to work up.

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Figure 1 (daily chart).

Complex analysis:

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

General conclusion:

Today, from the level of 1.3264 (the closing of yesterday's daily candle), the price can continue to work down with the goal of 1.3117 which is a pullback level of 14.6% (red dotted line). After testing this line, continue working down with the target of 1.3159 which is a pullback level of 23.6% (red dotted line). When this level is reached, it is possible to work up.

Alternative scenario: When moving down and reaching the pullback level of 14.6% at 1.3117 (red dotted line), the market will try to move up with the goal of 1.3211 which is the upper fractal (red dotted line).

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