FX.co ★ Indicator Analysis. Daily review for the GBP/USD currency pair 01/18/21

Trend Analysis (Figure 1).

Today, the market may continue to go down from the level of 1.3585 (Friday's daily candle close) with the target of 1.3481 at the historical resistance level (blue dotted line). When testing this line, it will continue to go down with the target of 1.3373 at the retracement level of 14.6% (red dotted line).

Figure 1 (daily chart).

Comprehensive Analysis:

• Indicator Analysis – down

• Fibonacci Levels – down

• Volumes – down

• Technical Analysis – down

• Trend Analysis – down

• Bollinger Bands – down

• Weekly Chart – down

General Conclusion:

Today, the price may continue to go down with the target of 1.3481 at the historical resistance level (blue dotted line). When testing this line, it will go down with a target of 1.3373 at the retracement level of 14.6% (red dotted line).

Unlikely scenario: the price may continue to go down from the level of 1.3585 (Friday's daily candle close) with the target of 1.3481 at the historical resistance level (blue dotted line). When testing this line, it is possible to go up with the target of 1.3550 - 21 average EMA (black thin line).