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

Trend Analysis (Fig. 1).

Today, the market may continue to go up from the level of 1.3652 (the closing of yesterday's daily candle) with the target of 1.3717 at the upper fractal (red dotted line). When testing this line, it is possible to continue going up with the target of 1.3826 at the upper limit of the Bollinger line indicator (the black dotted line).

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Figure 1 (daily chart).

Comprehensive Analysis:

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

General Conclusion

Today, the price may continue to go up from the level of 1.3652 (the closing of yesterday's daily candle) with the target of 1.3717 at the upper fractal (red dotted line). When testing this line, it is possible to continue going up with the target of 1.3826 at the upper limit of the Bollinger Line indicator (the black dotted line).

Alternative scenario: from the level of 1.3652 (the closing of yesterday's daily candle), it may continue to go up with the target of 1.3717 at the upper fractal (red dotted line). When testing this line, it is possible to go down with a target of 1.3577 - 21 average EMA (black thin line).

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

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