FX.co ★ Indicator analysis: Daily review on GBP/USD for January 28, 2020

Trend analysis (Fig. 1).

A downward movement is expected today with the target of 1.3007, the support line in red bold line. In the case of testing this line, work up with the target of 1.3068, the 21 average EMA presented in a black thin line.

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - up;

- Trend analysis - down;

- Bollinger lines - down;

- Weekly schedule - down.

General conclusion:

The price may continue to move down today.

An unlikely but quite possible scenario is from a rollback level of 61.8% equivalent to 1.3039, presented in a blue dashed line, work up with a target and the upper fractal of 1.3105.