FX.co ★ Indicator analysis. Daily review for the GBP/USD pair on June 17, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.3982 (closing of yesterday's daily candlestick) may continue to move downward with the target of 1.3957 - the 50.0% retracement level (red dotted line). Upon reaching this level, it is possible to start moving upward with the target of 1.4011 - the 61.8% retracement level (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3982 (closing of yesterday's daily candlestick) may continue to move downward with the target of 1.3957 - the 50.0% retracement level (red dotted line). Upon reaching this level, it is possible to start moving upward with the target of 1.4011 - the 61.8% retracement level (blue dashed line).

Alternative scenario: from the level of 1.3982 (closing of yesterday's daily candlestick), it may continue to move down with the target at 1.3957 - the 50.0% retracement level (red dotted line). Upon reaching this level, it is possible to continue moving downward with the target of 1.3889 - the retracement level of 61.8% (red dotted line).

And then, after testing this level, it is possible to work upwards.