FX.co ★ Indicator Analysis. Daily review for the GBP/USD currency pair 2/23/21

Trend Analysis (Fig. 1).

Today, the market will try to continue moving up from the level of 1.4060 (the closing of yesterday's daily candle) with the target of 1.4201 at the upper limit of the Bollinger Line indicator (the black dotted line). When testing this level, it is possible to continue going up with the target of 1.4285 at the historical resistance level (blue 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 will try to continue moving up from the level of 1.4060 (the closing of yesterday's daily candle) with the target of 1.4201 at the upper limit of the Bollinger Line indicator (the black dotted line). When testing this level, it is possible to continue going up with the target of 1.4285 at the historical resistance level (blue dotted line).

Unlikely scenario: from the level of 1.4060 (the close of yesterday's daily candle), the average EMA (blue thin line) will try to start moving down with the target of 1.3962-8. When testing this level, it is possible to go down with the target of 1.3841-21 average EMA (black thin line).