Indicator Analysis. Daily review for the GBP/USD currency pair 03/19/21

Trend Analysis (Fig. 1).

Today, the market will try to continue moving down from the level of 1.3925 (the closing of yesterday's daily candle) with the target of 1.3869 at the support line (the red bold line). When this line is reached, the price may start moving up with the target of 1.3944 - a pullback level of 85.4% (yellow dotted line). After reaching this line, the price will continue to move up with the target of 1.4217 at the historical resistance level (blue dotted line).

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Figure 1 (daily chart).

Comprehensive Analysis:

- Indicator Analysis - down

- Fibonacci Levels - down

- Volumes - down

- Candle Analysis - down

- Trend Analysis - up

- Bollinger Bands - up

- Weekly Chart - up

General Conclusion:

Today, the price will try to continue moving down from the level of 1.3925 (the closing of yesterday's daily candle) with the target of 1.3869 at the support line (the red bold line). When this line is reached, the price may start moving up with the target of 1.3944 – a pullback level of 85.4% (yellow dotted line). After reaching this line, the price will continue to move up with the target of 1.4217at the historical resistance level (blue dotted line).

Unlikely scenario: from the level of 1.3925 (the closing of yesterday's daily candle), it will try to start moving down with the target of 1.3869 – the support line (the red bold line). When this line is reached, the price may continue to move down with the target of 1.3816 – a pullback level of 14.6% (red dotted line). When testing this line, the price will continue to move up.

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

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