30.01.202009:09 Forex Analysis & Reviews: Indicator analysis: Daily review on GBP/USD for January 30, 2020

Trend analysis (Fig. 1).

A downward side-channel is possible today until 12:00 UTC with the target of 1.3014, the support line in a red bold line. An upward movement is expected as well with the first target of 1.3051, the retracement level of 38.2% presented in a red dashed line. In case of testing this line, there is a continuation of work upward with the target of 1.3098, the retracement level of 61.8% presented in a red dashed line.

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly schedule - up.

General conclusion:

The price may start to move up today.

A downward scenario is unlikely but quite possible. That is, from the support line 1.3014, presented in a red bold line, work down with the target and the lower fractal at 1.2975.