Indicator Analysis. Daily review for the GBP/USD currency pair 12/04/20

Trend Analysis (Fig. 1).

Today, the market will try to continue going up from the level of 1.3445 (closing of yesterday's daily candle) with the target of 1.3482 at the resistance line (red bold line). When this line is reached, the price will continue to go up with the target of 1.3753 at the old resistance line (blue bold line).

analytics5fc9e84e13ea7.jpg

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 will try to continue going up from the level of 1.3445 (closing of yesterday's daily candle) with the target of 1.3482 at the resistance line (red bold line). When this line is reached, the price will continue to go up with the target of 1.3753 at the old resistance line (blue bold line).

Alternative scenario: when going up and reaching the target of 1.3482 at the resistance line (red bold line), there will be a work going down with the target of 1.3377 at the pullback level of 14.6% (red dotted line).

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