FX.co ★ Indicator analysis. Daily review on GBP / USD for July 27, 2020

Trend analysis (Fig. 1).

The market may continue to move upward from the level of 1.2795 (closing of Friday's daily candle) with the target of 1.2895 located at the upper border of the Bollinger line indicator (purple dotted line). If this line is reached, the upward movement may continue with the next target at the resistance line 1.2995 (black thick 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 chart - up.

General conclusion:

Today the price may continue to move upward with the target at 1.2895 located at the upper border of the Bollinger Band indicator (purple dashed line). If this line is reached, the upward movement may continue with the next target at the resistance line -1.2995 (black thick line).

Another possible scenario is an upward trend from the level of 1.2795 (closing of the Friday's daily candle) with the target at 1.2895 located at the upper border of the Bollinger line indicator (purple dashed line). From this level, a downward pullback is possible with the target of 1.2802 - a 14.6% pullback level (red dotted line).