FX.co ★ Indicator analysis. Daily review on October 16, 2019 for the GBP / USD currency pair

Trend analysis (Fig. 1).

On Wednesday, the price may continue to move up to the target level of 161.8% - 1.2824 (blue dotted line) again. From this level, it is possible to move down to a pullback level of 14.6% - 1.2711 (red dashed line).

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:

On Wednesday, the price may continue to move up.

Initially, the upward movement to the target level of 161.8% is 1.2824 (blue dashed line) is possible, and then from this level, the downward movement with the target 1.2711 is a pullback level of 14.6% (red dashed line).

An unlikely scenario - from the target level of 161.8% - 1.2824 (blue dotted line), the movement up to the upper fractal 1.3177.