FX.co ★ Indicator analysis. Daily review for the GBP/USD pair on May 21, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.4185 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.4218 - the upper fractal (red dotted line). Upon reaching this level, the price may continue to move upward with the target of 1.4345 - 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 - up;
• Trend analysis - up;
• Bollinger lines - up;
• Weekly chart - up.

General conclusion:

Today, the price from the level of 1.4185 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.4218 - the upper fractal (red dotted line). Upon reaching this level, the price may continue to move upward with the target of 1.4345 - the upper border of the Bollinger line indicator (black dashed line).

Unlikely scenario: from the level of 1.4185 (closing of yesterday's daily candlestick), it will try to start moving down with the target of 1.4138 - the 14.6% retracement level (red dotted line). Upon reaching this level, the price may continue to move downward with the target of 1.4088 - the 23.6% retracement level (red dashed line).