FX.co ★ Indicator analysis. Daily review for the GBP/USD pair on May 24, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.4146 (closing of last Friday's daily candlestick) may start moving upwards with the target of 1.4232 - the upper fractal (red dotted line). After testing this level, it is possible to continue the upward work with the target at 1.4370 - 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 1.4146 (closing of last Friday's daily candlestick) may start moving upwards with the target of 1.4232 - the upper fractal (red dotted line). After testing this level, it is possible to continue the upward work with the target at 1.4370 - the upper border of the Bollinger line indicator (black dashed line).

Unlikely scenario: from the level of 1.4146 (closing of last Friday's daily candlestick), it may continue to move down with the target of 1.4088 - the 23.6% retracement level (red dotted line). And from this level, the upward work is possible.