16.11.202110:10 Forex-elemzések és áttekintések: Indicator analysis. Daily review of GBP/USD on November 16, 2021

Trend analysis (Fig. 1)

Today, the price from the level of 1.3410 (closing of yesterday's daily candle) will make an attempt to further rise to the target of 1.3466 – the pullback level of 23.6% (yellow dotted line). Once this line is tested, the upward movement will continue to the target of 1.3537– the pullback level of 38.2% (yellow dotted line).

Figure 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:

The price from the level of 1.3410 (closing of yesterday's daily candle) will try to continue its growth to the target of 1.3466 – the pullback level of 23.6% (yellow dotted line). After testing it, it can move up higher to the target of 1.3537– the pullback level of 38.2% (yellow dotted line).

As an alternative, the price from the level of 1.3410 (closing of yesterday's daily candle) can resume its decline to the target of 1.3352 – the lower fractal (yellow dashed line) and then rise again to the target of 1.3422 – the pullback level of 14.6% (yellow dotted line).