16.04.202108:31 Forex Analysis & Reviews: Indicator analysis. Daily review for the GBP/USD pair on April 16, 2021

Trend analysis (Fig. 1).

On Friday, the market from the level of 1.3783 (closing of yesterday's daily candlestick) will try to start moving down with the target of 1.3668 - the lower fractal (blue dotted line). Upon reaching this level, the price may start moving upwards with the target of 1.3750 - the 14.6% retracement level (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3783 (closing of yesterday's daily candlestick) will try to start moving down with the target of 1.3668 - the lower fractal (blue dotted line). Upon reaching this level, the price may start moving upwards with the target of 1.3750 - the 14.6% retracement level (blue dashed line).

Alternative scenario: from the level of 1.3783 (closing of yesterday's daily candlestick), the pair will try to start moving upwards with the target of 1.3882 - the 38.2% retracement level (blue dashed line). Upon reaching this level, the price may continue to move down with the target of 1.3947 - the 50.0% retracement level (blue dashed line).