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Technical analysis

28.04.202111:37 Forex Analysis & Reviews: Indicator analysis. Daily review for April 28, 2021 for the GBP/USD currency pair

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Trend analysis (Fig. 1).

On Wednesday, the market from the level of 1.3906 (closing of yesterday's daily candlestick) will try to start moving downward in order to reach the support line - 1.3826 (red bold line). If this line is tested, it is possible to continue working up with the target of 1.3947 – the 50.0% retracement level (blue dotted line). After this level is reached, the upward movement is likely to continue with the target of 1.4014 - the 61.8% retracement level (blue dotted line).

Figure 1 (daily chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3906 (closing of yesterday's daily candlestick) will try to start moving downward in order to reach the support line - 1.3826 (red bold line). If this line is tested, it is possible to continue working up with the target of 1.3947 – the 50.0% retracement level (blue dotted line). After this level is reached, the upward movement is likely to continue with the target of 1.4014 - the 61.8% retracement level (blue dotted line).

Unlikely scenario: the price from the level of 1.3906 (closing of yesterday's daily candlestick) will try to start moving down, with the target of reaching the support line - 1.3826 (the red bold line). After this line is reached, the downward movement may continue with the target of 1.3746 - the support line (blue bold line). From this line, an upward movement is possible.

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