Indicator analysis. Daily review for the GBP/USD pair on May 10, 2021

Trend analysis (Fig. 1).

On Monday, the market from the level of 1.3989 (closing of last Friday's daily candlestick) may continue to move upward with the target of 1.4095 - the 76.4% retracement level (blue dotted line). After testing this level, it is possible to continue working upwards with the target of 1.4127 - the upper border of the Bollinger line indicator (black dashed 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:

Today, the price from the level of 1.3989 (closing of last Friday's daily candlestick) may continue to move upward with the target of 1.4095 - the 76.4% retracement level (blue dotted line). After testing this level, it is possible to continue working upwards with the target of 1.4127 - the upper border of the Bollinger line indicator (black dashed line).

Unlikely scenario: from the level of 1.3989 (closing of last Friday's daily candle), it may continue to move upward with the target of 1.4095 - the 76.4% retracement level (blue dashed line). After testing this level, a pullback operation downward is possible with the target of 1.4010 - a pullback level of 14.6% (red dashed line).