Indicator Analysis. Daily review for the GBP/USD currency pair 01/06/21

Yesterday, the pair went up and failed to reach the pullback level of 76.4% at 1.3676 (yellow dotted line). Today, the price will try to continue going up according to the economic calendar news, it is expected at 9.30, 14.00 UTC (pound), 13.15, 15.30, 19.00 UTC (dollar).

Trend Analysis (Figure 1).

Today, the market will try to continue going up from the level of 1.3623 (closing of yesterday's daily candle) with the aim of reaching the upper fractal of 1.3702 (red dotted line) at the daily candle from 04/01/2021. If this level is tested, there will be a further work going up with a target of 1.3825 in the upper limit of the Bollinger line indicator (black dotted line).

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Figure 1 (daily chart).

Comprehensive 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 1.3623 (closing of yesterday's daily candle) with the aim of reaching the upper fractal of 1.3702 (red dotted line) at the daily candle from 04/01/2021. If this level is tested, there will be a work going up with a target of 1.3825 in the upper limit of the Bollinger line indicator (black dotted line).

Unlikely scenario: the price will try to continue going up from the level of 1.3623 (closing of yesterday's daily candle) with the goal of reaching the pullback level of 76.4% at 1.3676 (yellow dotted line). If this level is tested, there will be a work going down with the target of 1.3481 in the historical support level (blue dotted line).

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