Indicator Analysis. Daily review for the GBP/USD currency pair 01/26/21

Trend Analysis (Fig. 1).

Today, the market will try to continue moving down from the level of 1.3671 (the close of yesterday's daily candle) with the target of 1.3601-21 average EMA (black thin line). If this line is reached, the downward movement will continue with the target of 1.3519 at the lower fractal (daily candle from 01/18/2021).

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Figure 1 (daily chart).

Comprehensive Analysis:

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

General Conclusion:

Today, the price will try to continue moving down from the level of 1.3671 (the close of yesterday's daily candle) with the target of 1.3601-21 average EMA (black thin line). If this line is reached, the downward movement will continue with the target of 1.3519 at the lower fractal (daily candle from 01/18/2021).

Unlikely scenario: when moving down and reaching the level of 1.3601-21, the average EMA (black thin line), the price may start moving up with a target of 1.3676 – a retracement level of 76.4% (yellow dotted line). If this level is reached, it will go up with the target of 1.3744 at the upper fractal (red dotted line).

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