FX.co ★ Indicator analysis. Daily review on GBP / USD for July 21, 2020

Trend analysis (Fig. 1).

The market may continue to move upward from the level of 1.2664 (closing of yesterday's daily candle) with the target of 1.2731 - an 85.4% pullback level (blue dotted line). If this level is reached, the upward trend may continue with the next target at the upper fractal 1.2813 (blue dotted 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 chart - up.

General conclusion:

Today the price may continue to move upward with the target of 1.2731 - an 85.4% pullback level (blue dashed line). In case of reaching this level, the upward trend may continue with the target at the upper fractal 1.2813 (blue dashed line).

Another possible scenario is a downward from 1.2731 - an 85.4% pullback level (blue dotted line) with the target at 1.2661 - a 14.6% pullback level (red dotted line).