FX.co ★ Indicator analysis. Daily review for the GBP/USD pair on April 22, 2021

Trend analysis (Fig. 1).

On Thursday, the market from the level of 1.3924 (closing of yesterday's daily candlestick) may start moving upwards with the target of 1.4014 - the 61.8% retracement level (blue dotted line). After testing this line, it is possible to continue working upward, with the target of 1.4095 - the 76.4% 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 1.3924 (closing of yesterday's daily candlestick) may start moving upwards with the target of 1.4014 - the 61.8% retracement level (blue dashed line). After testing this line, it is possible to continue working upward, with the target of 1.4095 - the 76.4% retracement level (blue dashed line).

Unlikely scenario: from the level of 1.3924 (closing of yesterday's daily candlestick), an upward movement may begin, with the target of 1.4014 - the 61.8% retracement level (blue dashed line). After testing this line, it is possible to start working downwards, with the target of 1.3883 - 8 EMA (blue thin line).