Indicator Analysis. Daily review for the GBP/USD currency pair 02/09/21

Yesterday, the pair moved down, tested the 13 average EMA of 1.3682 (yellow thin line). After that, the price went up, testing the upper fractal of 1.3757 (red dotted line), closing the day at 1.3736. Today, the upward movement will perhaps continue according to the economic calendar news, it is expected at 12.00 and 15.00 UTC (USD).

Trend Analysis (Fig. 1).

Today, the market will try to continue moving up from the level of 1.3736 (the close of yesterday's daily candle) with the target of 1.3822 at the upper limit of the Bollinger Line Indicator (the black dotted line). If this line is reached, the upward movement will continue with the target of 1.3944 - a pullback level of 85.4% (yellow dotted line).

analytics60222e19387ad.jpg

Figure 1 (daily chart).

Comprehensive Analysis:

- Indicator Analysis – up

- Fibonacci Levels – up

- Volumes – up

- Candle Analysis – down

- Trend Analysis – up

- Bollinger Bands – up

- Weekly Schedule – up

General Conclusion:

Today, the price will try to continue moving up from the level of 1.3736 (the closing of yesterday's daily candle) with the target of 1.3822 at the upper limit of the Bollinger Line Indicator (the black dotted line). If this line is reached, the upward movement will continue with the target of 1.3944 – a pullback level of 85.4% (yellow dotted line).

Unlikely scenario: when moving up and reaching the level of 1.3822 – the upper limit of the Bollinger Line Indicator (black dotted line) will go down with the target of 1.3695-13 average EMA (yellow thin line).

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