Indicator analysis. Daily review for the GBP/USD currency pair on January 15, 2021

Yesterday, while moving down, the pair broke off from the 8 average EMA 1.3611 (blue thin line) and began to move up, testing the upper fractal1.3702 (red dotted line). As per the economic calendar, news is expected at 13.30 UTC (dollar). Today, the price may start moving down.

Trend analysis (Fig. 1).

Today, the market from the level of 1.3683 (closing of yesterday's daily candle) will try to start moving down with the target of 1.3596 - 13 average EMA (yellow thin line). When this line is reached, the price may continue to move down with the target of 1.3553 - 21 average EMA (black thin line).

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Figure 1 (Daily Chart).

Comprehensive analysis:

  • Indicator analysis - down
  • Fibonacci levels - down
  • Volumes - down
  • Candlestick analysis - down
  • Trend analysis - up
  • Bollinger bands - up
  • Weekly chart - down

General conclusion:

Today, the price from the level of 1.3683 (closing of yesterday's daily candle) will try to start moving down with the target of 1.3596 - 13 average EMA (yellow thin line). When this line is reached, the price may continue to move down with the target of 1.3553 - 21 average EMA (black thin line).

Alternative scenario: from the level of 1.3683 (closing of yesterday's daily candle), the price will try to continue moving down with the target of 1.3625 - 8 average EMA (blue thin line). Upon reaching this line, it is possible to work up to the target of 1.3708 - the upper fractal (red dashed line).

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

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