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Indicator analysis. Daily review for the GBP/USD pair on April 13, 2021

Trend analysis (Fig. 1).

On Tuesday, the market from the level of 1.3735 (closing of yesterday's daily candlestick) will attempt to continue moving upwards to the target set at 1.3773 - the resistance line of the ascending channel (red bold line). After testing this line, it is likely to continue rising with a target of 1.3840 - the resistance line of the descending channel (blue bold line). And upon reaching this line, it may continue to work upward.

analytics60753edb1c7ca.jpg

Figure 1 (Daily Chart).

Comprehensive analysis:

  • Indicator analysis - up;
  • Fibonacci levels - up;
  • Volumes - up;
  • Candlestick analysis - up;
  • Trend analysis - up;
  • Bollinger lines - up;
  • Weekly chart - up.

General conclusion:

Today, the price from the level of 1.3735 (closing of yesterday's daily candlestick) will attempt to continue moving upwards to the target set at 1.3773 - the resistance line of the ascending channel (red bold line). After testing this line, it is likely to continue rising to the target set at 1.3840 - the resistance line of the descending channel (blue bold line). And upon reaching this line, it may continue to work upward.

Unlikely scenario: from the level of 1.3735 (closing of yesterday's daily candlestick), the pair will try to continue moving upwards with a target of 1.3773 - the resistance line of the ascending channel (red bold line). After testing this line, it may decline to the target set at 1.3668 - the lower fractal (blue dashed line). And upon testing this level, it is possible to work upwards with a target of 1.3750 - the 14.6% retracement level (red dashed line).

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