Indicator analysis. Daily review for the GBP/USD currency pair on January 29, 2021

Trend analysis (Fig. 1).

On Friday, the market from the level of 1.3717 (closing of yesterday's daily candle) will try to start moving down with the target of 1.3632 - 21 EMA (black thin line). When this line is reached, the price may continue to move down with the target of 1.3519 - the lower fractal (daily candle from 18.01.2021).

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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 1.3717 (closing of yesterday's daily candle) will try to start moving down with the target of 1.3632 - 21 EMA (black thin line). When this line is reached, the price may continue to move down with the target of 1.3519 - the lower fractal (daily candle from 18.01.2021).

Alternative scenario: from the level of 1.3717 (closing of yesterday's daily candle), the price will try to start moving down with the target of 1.3668 - 13 average EMA (yellow thin line). When this line is reached, the price can start moving upwards with the target of 1.3757 - the upper fractal (daily candle from 01/27/2021).

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