FX.co ★ Indicator analysis. Daily review on GBP / USD for July 17, 2020

Trend analysis (Fig. 1).

Today, the market may continue to move up from the level of 1.2555 (closing of yesterday's candle) with the target of 1.2599 - a 61.8% pullback level (blue dotted line). From this level, the price may continue to move up with the next target at the upper fractal 1.2670 (red dashed line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - neutral;

- Trend analysis - up;

- Bollinger Lines - down;

- Weekly schedule - up.

General conclusion:

Today, the price may continue to move up from the level of 1.2555 (closing of yesterday's candle) with the target of 1.2599 - a 61.8% pullback level (blue dotted line). From this level, the price may continue to move up with the next target at the upper fractal 1.2670 (red dashed line).

Another possible scenario is a decline to 1.2511 - a 38.2% pullback level (red dashed line). From this level, an upward rollback is possible with the target at the upper fractal is 1.2670 (red dashed line).