FX.co ★ Indicator analysis. Daily forecast for GBP/USD on April 9, 2021

Trend analysis

On Friday, the price from the level of 1.3829 (closing of yesterday's daily candle) will attempt to continue to decline, with the target of 1.3669 (blue dotted line) – the lower fractal. After reaching this level, the price may start rising towards the target of 1.3750 (blue dotted line) – the pullback level of 14.6%.

Figure 1 (daily chart)

Comprehensive analysis:

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

Overall conclusion:

Today, the price from the level of 1.3829 (closing of yesterday's daily candle) will attempt to continue its downward movement, with the target of 1.3669 (blue dotted line) – the lower fractal. After reaching this level, the price may start increasing towards the target of 1.3750 (blue dotted line) – the pullback level of 14.6%.

Alternatively, the price from the level of 1.3829 (closing of yesterday's daily candle) will attempt to resume its decline to the target of 1.3669 (blue dotted line) – the lower fractal. After testing this level, it may further move downwards to the target of 1.3562 (red dotted line) – the pullback level of 23.6%. Once the price reached this line, it may start rising.