Indicator Analysis. Daily review for the GBP/USD currency pair 03/22/21

Trend Analysis (Fig. 1).

Today, the market may continue to move down from the level of 1.3873 (the closing of Friday's daily candle) with a target of 1.3815 – a pullback level of 14.6% (the red dotted line). When testing this level, it is possible to continue working downwards with the target of 1.3693 at the lower border of the Bollinger line indicator (the black 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 – down

- Bollinger Bands – down

- Weekly Chart – down

General Conclusion:

Today, the price may continue to move down from the level of 1.3873 (the closing of Friday's daily candle) with the target of 1.3815 – a pullback level of 14.6% (the red dotted line). When testing this level, it is possible to continue working downwards with the target of 1.3693 at the lower border of the Bollinger line indicator (the black dotted line).

Unlikely scenario: from the level of 1.3873 (the closing of Friday's daily candle), the price may continue to move down with the target of 1.3815 – a pullback level of 14.6% (the red dotted line). When testing this level, it is possible to start working up with a target of 1.3944 – a pullback level of 85.4% (yellow dotted line).

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

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