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20.04.202110:12 Forex Analysis & Reviews: Indicator analysis. Daily review for the GBP/USD pair on April 20, 2021

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Trend analysis (Fig. 1).

On Tuesday, the market from the level of 1.3981 (closing of yesterday's daily candlestick) will attempt to continue moving upwards with the target of 1.4013 - the 61.8% retracement level (blue dotted line). After testing this level, it is possible to continue working upwards with the target of 1.4095 - the 76.4% retracement level (blue dashed line). And upon reaching this line, it may continue working upward.

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3981 (closing of yesterday's daily candlestick) will attempt to continue moving upwards with the target of 1.4013 - the 61.8% retracement level (blue dashed line). After testing this level, it is possible to continue working upwards with the target of 1.4095 - the 76.4% retracement level (blue dashed line). And upon reaching this line, it may continue working upward.

Alternative scenario: from the level of 1.3981 (closing of yesterday's daily candlestick), the pair will try to continue moving upwards with the target of 1.4013 - the 61.8% retracement level (blue dashed line). After testing this level, it is possible to work downward with the target of 1.3900 - 5 EMA (red thin line).

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