FX.co ★ Indicator analysis: Daily review of the GBP/USD currency pair 13/10/2020

Trend analysis (Fig. 1).

Today, the market will try to start moving down from the level of 1.3065 (which was the closing of yesterday's daily candle) with the goal of 1.3024. This will be a pullback level of 14.6% (red dotted line). If this level is reached, continue working down with the target of 1.2986. The pullback level is then 23.6% (red dotted line).

Figure 1 (daily chart).

Complex analysis:

• Indicator analysis – down
• Fibonacci levels – down
• Volumes – down
• Technical analysis – down
• Trend analysis – up
• Bollinger bands – up
• Weekly chart - up

General conclusion:

Today, the price from the level of 1.3065 (which was the closing of yesterday's candle) will try to start moving down with the goal of 1.3024 with a pullback level of 14.6% (red dotted line). If this level is reached, continue working down with the target of 1.2986, the pullback level is 23.6% (red dotted line).

Unlikely scenario: A downward movement with a target of 1.3024 and a pullback level of 14.6% (red dotted line). If this level is reached, work up with the goal of 1.3083 in the upper fractal (red dotted line).