FX.co ★ Indicator Analysis. Daily review for the GBP/ USD currency pair 02/02/21

Trend Analysis (Fig. 1).

Today, the market will try to start moving up from the level of 1.3658 (the close of yesterday's daily candle) with the target of 1.3757 at the upper fractal (red thin line). If this line is reached, the upward movement will continue with the target of 1.3819 at the upper limit of the Bollinger Line Indicator (the black dotted line).

Figure 1 (daily chart).

Comprehensive Analysis:

- Indicator Analysis – up

- Fibonacci Levels – up

- Volumes – up

- Candle Analysis – down

- Trend Analysis – up

- Bollinger Bands – up

- Weekly Schedule – up

General Conclusion:

Today, the price from the level of 1.3658 (the close of yesterday's daily candle) will try to start moving up with the target of 1.3757 at the upper fractal (red thin line). If this line is reached, the upward movement will continue with the target of 1.3819 at the upper limit of the Bollinger Line Indicator (the black dotted line).

Unlikely scenario: when moving down and reaching the level of 1.3638-21, the average EMA (black thin line), the price may start moving up with a target of 1.3676 – a retracement level of 76.4% (yellow dotted line). If this level is reached, further work will go up with the target of 1.3757 upper fractal (red dotted line).