17.01.202009:00 Forex Analysis & Reviews: Indicator analysis: Daily review on GBP/USD for January 17, 2020

Trend analysis (Fig. 1).

The price may continue to move up today with the target of 1.3064, the resistance line presented in a red bold line. If this line is reached, the market may start working down with the target of 1.3026 in the lower fractal.

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, the price may continue to move up.

An upward scenario is unlikely, but quite possible, where, from the resistance line 1.3064 presented in a red bold line, a continuation of work up with the target 1.3120, the retracement level of 50% presented in a red dashed line.