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09.04.202008:44 Forex Analysis & Reviews: Indicator analysis. Daily review for GBP/USD pair on April 9, 2020

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Trend analysis (Fig. 1).

On Thursday, the market from the level of 1.2384 (yesterday's closing of the daily candlestick) can continue to move up, with the target at 1.2518 - a pullback level of 61.8% (red dashed line). If this level is broken up, the upward movement will continue with the target at 1.2779 - a pullback level of 76.4% (red dashed line).

Exchange Rates 09.04.2020 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - neutral;

- trend analysis - up;

- Bollinger Lines - up;

- weekly schedule - up.

General conclusion:

Today, the price's upward movement is possible with the target at 1.2518 - a pullback level of 61.8% (red dashed line).

An unlikely scenario: working down from the level of 1.2384 (yesterday's closing of the daily candlestick), with the target of 1.2306 - a pullback level of 50.0% (red dashed line).

Stefan Doll
Analytical expert of InstaForex
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