FX.co ★ Indicator analysis. Daily review of the GBP/USD currency pair for April 6, 2021

Trend analysis (Fig. 1).

On Tuesday, from the level of 1.3900 (the closing of yesterday's daily candlestick), the market will try to continue moving upwards, with the target of 1.3947 - the 50.0% retracement level (blue dashed line). When the price tests this level, it is likely to continue moving upwards with the target of 1.4013 - the 61.8% retracement level (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

• Indicator analysis - up;
• Fibonacci levels - up;
• Volumes - up;
• Candlestick analysis - up;
• Trend analysis - up;
• Bollinger lines - up;
• Weekly chart - up.

General conclusion:

Today the price from the level of 1.3900 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.3947 - the retracement level of 50.0% (blue dashed line). When the price tests this level, it is possible that the movement will continue upwards with the target of 1.4013 - the 61.8% retracement level (blue dashed line).

Unlikely scenario: from the level of 1.3900 (the closing of yesterday's daily candlestick), the pair will try to continue moving upwards with the target of 1.3947 - the 50.0% retracement level (blue dashed line). When testing this level, it is likely to work down with the target of 1.3815 - the 14.6% retracement level (red dotted line).