18.02.202009:46 Forex Analysis & Reviews: Indicator analysis. Daily review of GBP / USD on February 18, 2020

The pair rolled back yesterday testing the pullback level of 38.2% equivalent to 1.2994 (blue dashed line). Today, strong calendar news for the pound is expected at 09:30 UTC. Perhaps, the upward movement will continue with the first target 1.2971, the pullback level of 50% (red dashed line).

Trend analysis (Fig. 1).

Today, from the pullback level of 38.2% equivalent to 1.2994 (blue dashed line), it is possible to move up with the target 1.3041, the pullback level 50.0% (red dashed line). If this level is reached, continued work upwards with the target at 1.3070, the upper fractal (blue dashed line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, the price may continue to move up.

An unlikely but quite possible scenario is from a retracement level of 38.2% equivalent to 1.2994 (blue dashed line), work down with the target 1.2948, the retracement level of 61.8% (blue dashed line).