12.01.202110:00 Forex Analysis & Reviews: Indicator analysis. Daily review of GBP/USD for January 12, 2021

Trend analysis (fig. 1)

On Tuesday, the price will try to rise from 1.3509, the closing level of yesterday's daily candlestick, to the target at 1.3676, the 76.4% retracement level (the yellow dotted line). If the price reaches the level, the next target will be at 1.3702, the upper fractal (the red dotted line).

Daily chart (fig. 1).

Comprehensive analysis:

- indicator analysis - uptrend

- Fibonacci levels - uptrend

- volumes - uptrend

- candlestick analysis - uptrend

- trend analysis - uptrend

- Bollinger bands- uptrend

- weekly chart - uptrend

General conclusion:

Today, the price will try to rise from 1.3509, the closing level of yesterday's daily candlestick, to the target at 1.3676, the 76.4% retracement level (the yellow dotted line). If the price reaches the level, the next target will be at 1.3702, the upper fractal (the red dotted line).

Unlikely scenario: If the price moves in the uptrend and reaches the level of 1.3634, the upper fractal (the daily candlestick from January 8,2021), the pair will try to extend the downward movement to the target at 1.3450, the lower fractal (the daily candlestick from January 11, 2021). In case the price reaches this level, the next downward target will be seen at 1.3367, the 14.6% retracement level (the red dotted line).