FX.co ★ Indicator analysis. Daily review for the GBP/USD pair on April 26, 2021

Trend analysis (Fig. 1).

On Monday, the market from the level of 1.3878 (closing of last Friday's daily candlestick) may continue to move upward with the target of 1.3947 - the 50.0% retracement level (blue dotted line). After testing this level, it is possible to continue working upward with the target of 1.4013 - the 61.8% retracement level (blue dashed line). And upon reaching this line, it is likely to work upwards with the target of 1.4043 - the upper border of the Bollinger line indicator (black dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3878 (closing of last Friday's daily candlestick) may continue to move upward with the target of 1.3947 - the 50.0% retracement level (blue dashed line). After testing this level, it is possible to continue working upward with the target of 1.4013 - the 61.8% retracement level (blue dashed line). And upon reaching this line, it is likely to work upwards with the target of 1.4043 - the upper border of the Bollinger line indicator (black dashed line).

Unlikely scenario: from the level of 1.3878 (closing of last Friday's daily candlestick), the price will continue to move upward with the target of 1.3947 - the 50% retracement level (blue dashed line). After testing this level, the price may start moving down with the target at 1.3816 - the 14.6% retracement level (red dotted line). And upon testing this level, it is possible to continue working upwards with the target of 1.3882 - the 38.2% retracement level (blue dashed line).