FX.co ★ Indicator analysis. Daily review for the GBP/USD pair on May 19, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.4186 (closing of yesterday's daily candlestick) will try to continue moving upwards in order to reach the upper fractal - 1.4227 (blue dotted line). In case of testing this level, it is possible to continue working upwards with the target of 1.4328 - the upper border of the Bollinger line indicator (black dashed line). Upon reaching this line, it is possible to work down.

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.4186 (closing of yesterday's daily candlestick) will try to continue moving upwards in order to reach the upper fractal - 1.4227 (blue dotted line). In case of testing this level, it is possible to continue working upwards with the target of 1.4328 - the upper border of the Bollinger line indicator (black dashed line). Upon reaching this line, it is possible to work down.

Alternative scenario: the price from the level of 1.4186 (closing of yesterday's daily candlestick) will try to start moving downwards in order to reach the retracement level of 14.6% - 1.4137 (red dashed line). In case of testing this level, it is possible to continue working upwards with the target of 1.4227 - the upper fractal (red dotted line).