Indicator analysis. Daily review for the GBP/USD currency pair on January 28, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.3685 (closing of yesterday's daily candle) may continue to move down with the target of 1.3621 - the 21 period EMA (black thin line). When testing this line, it is possible to continue moving upward with a target of 1.3743 - the upper fractal (red dotted line).

analytics6012677967560.jpg

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3685 (closing of yesterday's daily candle) may continue to move down with the target of 1.3621 - the 21 period EMA (black thin line). When testing this line, it is possible to continue moving upward with a target of 1.3743 - the upper fractal (red dotted line).

Alternative scenario: from the level of 1.3652 (closing of yesterday's daily candle), the pair may continue to move downward with a target of 1.3621 - the 21 period EMA (black thin line). When testing this line, it is likely to continue moving downward with a target of 1.3519 - the lower fractal (daily candle from 01/18/2021).

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

Pages