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04.03.202111:24 Forex Analysis & Reviews: Indicator analysis. Daily review of GBP/USD for March 4, 2021

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Trend analysis (Fig. 1)

On Thursday, the price can go up to the historic resistance level of 1.4217 (the blue dotted line) from the closing price of yesterday's daily candlestick, that is, 1.3947. If the pair tests this level, the price may rise to the upper fractal at 1.4378 (the yellow dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - uptrend

- Fibonacci levels - uptrend

- volumes - uptrend

- candlestick analysis - downtrend

- trend analysis - uptrend

- Bollinger bands - uptrend

- weekly chart - uptrend

Conclusion:

Today, the price can go up to the historic resistance level of 1.4217 (the blue dotted line) from the closing price of yesterday's daily candlestick, that is, 1.3947. If the pair tests this level, the price may rise to the upper fractal at 1.4378 (the yellow dotted line).

Alternatively, the price may go down to the support line of 1.3753 (the red bold line) from the closing price of yesterday's daily candlestick - .3947. If the pair tests this level, the price may climb to the exponential moving average (21) located at 1.3905 (the black thin line).

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