FX.co ★ Indicator analysis. Daily review of GBP / USD on February 17, 2020

The pair continued to move up on Friday, breaking through the pullback level of 50.0% equivalent to 1.3041 (red dotted line). Strong calendar news is not expected today. Also, the market in the US will be narrow. Perhaps the upward movement will continue with the first target 1.3081, the retracement level of 61.8% (red dashed line).

Trend analysis (Fig. 1).

From the pullback level of 50.0% equivalent to 1.3041 (red dashed line), an upward movement is possible today with the target 1.3081, the rollback level of 61.8% (red dashed line). If this level is reached, there is a roll back down with the target 1.3007, the support line (red bold 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 pullback level of 50% equivalent to 1.3041 (red dashed line), work down with the target 1.2944, the lower fractal (red dashed line).