16.02.202108:52 Forex Analysis & Reviews: Indicator analysis. Daily review of GBP/USD on February 16, 2021

Trend analysis (Picture 1)

On Tuesday, the price will try to go on increasing from 1.3901 (a close of yesterday's daily candlestick) towards the level of 1.3943 that is the 85.4% retracement level (a yellow thin line). If the price tests the mentioned level, it is likely to go on gaining in value with the target of 1.3989 that is the upper limit of the Bollinger indicator line (a black dotted line). If the pair reaches this level, it will continue advancing.

Picture 1 (Daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volume analysis - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger band indicator - up;

- Weekly chart - up.

Conclusion:

Today, the price will try to go on increasing from 1.3901 (a close of yesterday's daily candlestick) towards the level of 1.3943 that is the 85.4% retracement level (a yellow thin line). If the pair reaches this level, it may advance to 1.3989 that is the upper limit of the Bollinger indicator line (a black dotted line). If the pair reaches this level, it will continue advancing.

In the unlikely scenario, the pair may reach the 85.4% retracement level located at 1.3943 (a yellow dotted line). At the same time, the price may drop to 1.3792 that is the 13 EMA (a yellow thin line).