Indicator analysis. Daily review for the GBP/USD currency pair on January 8, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.3561 (closing of yesterday's daily candle) will try to start moving up with the target of 1.3676 - the retracement level of 76.4% (yellow dotted line). When this line is reached, the price can continue to move up with the target of 1.3827 - the upper border of the Bollinger line indicator (black dotted line).

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Figure 1 (Daily Chart).

Complex analysis:

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

General conclusion:

Today, the price from the level of 1.3561 (closing of yesterday's daily candle) will try to start moving up with the target of 1.3676 - the retracement level of 76.4% (yellow dotted line). When this line is reached, the price can continue to move up with the target of 1.3827 – the upper border of the Bollinger line indicator (black dotted line).

Alternative scenario: from the level of 1.3561 (closing of yesterday's daily candle), the pair will try to continue moving down with the target of 1.3504 - 21 EMA average (black thin line). Upon reaching this line, it is possible to move up to the target of 1.3676 - the retracement level of 76.4% (yellow dashed line).

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