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14.01.202210:00 Forex Analysis & Reviews: Indicator analysis. Daily review of GBP/USD on January 14, 2021

Company does not offer investment advice and the analysis performed does not guarantee results.
The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Trend analysis (Fig. 1)

The price from the level of 1.3701 (closing of yesterday's daily candlestick) will make an attempt to continue its growth to the target of 1.3747 – the upper fractal (daily candle from 1/13/2022) today. After testing this level, it may start declining to the target of 1.3662 – the pullback level of 14.6% (red dotted line).

Exchange Rates 14.01.2022 analysis

Fig 1 (daily chart)

Comprehensive analysis:

  • Indicator analysis - up
  • Fibonacci levels - up
  • Volumes - up
  • Candlestick analysis - up
  • Trend analysis - up
  • Bollinger lines - up
  • Weekly chart - up

General conclusion:

Today, the price from the level of 1.3701 (closing of yesterday's daily candlestick) will try to further increase to the target of 1.3747 – the upper fractal (daily candle from 1/13/2022). Once this level is tested, the beginning of the decline can be expected to the target of 1.3662 – the pullback level of 14.6% (red dotted line).

Alternatively, the price from the level of 1.3701 (closing of yesterday's daily candlestick) can also attempt to move up to the target of 1.3747 – the upper fractal (daily candle from 1/13/2022) and then rise higher to the target of 1.3800 – the historical resistance level (blue dotted line) after testing it.

Stefan Doll
Analytical expert of InstaForex
© 2007-2022

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