06.04.202008:36 Forex Analysis & Reviews: Indicator analysis. Daily review of GBP/USD on April 6, 2020

Trend analysis (Fig. 1).

Today, from the retracement level of 23.6% -1.2238 (blue dashed line) the pair may begin to move up with the first target of 1.2306 - the retracement level of 50.0% (red dashed line). Upon reaching this level, the continuation of the upward work is with the goal of 1.2518 - a retracement level of 61.8% (red dashed line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - neutral;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, an upward movement is possible with the target of 1.2518 - a retracement level of 61.8% (red dotted line).

Unlikely scenario: from a pullback level of 50.0% - 1.2306 (red dashed line), work down with a target of 1.2096 - a pullback level of 38.2% (blue dashed line).