FX.co ★ Indicator analysis: Daily review on GBP/USD for January 22, 2020

Trend analysis (Fig. 1).

Expect an upward movement today with the target of 1.3076, the resistance line presented in a red bold line. In case of breaking through this level, there is a continuation of work upwards with the target of 1.3120, the pullback level of 50.0% presented in a 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:

The price may continue to move up today.

A downward scenario is unlikely but quite possible. That is, from the level of 1.3076, the resistance line in a red bold line, work down with the target of 1.2994, the support line in a red bold line.