Indicator analysis. Daily review of GBP/USD for January 27, 2021

Trend analysis (Fig. 1).

On Wednesday, the upward trend is likely to extend from the closing rate of yesterday's daily candlestick - 1.3731. The price will try to reach 1.3826 - the upper border of the Bollinger Band (black dotted line). In case the price tests this level, the upward trend may continue to 1.3944 - the 85.4% retracement level (yellow dotted line).

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Fig. 1 (Daily chart).

Complex analysis:

- indicator analysis - uptrend

- Fibonacci levels - uptrend

- volumes - uptrend

- candlestick analysis - uptrend

- trend analysis - uptrend

- Bollinger Bands- uptrend

- weekly chart - uptrend

General conclusion:

Today, the upward trend is likely to extend from the closing rate of yesterday's daily candlestick - 1.3731. The price will try to reach 1.3826 - the upper border of the Bollinger Band (black dotted line). In case the price tests this level, the upward trend may continue to 1.3944 - the 85.4% retracement level (yellow dotted line).

Alternatively: from1.3731- the closing rate of yesterday's daily candlestick - the price may go down to 1.3621 - the 21 period EMA (black thin line).

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