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

Trend analysis (Fig. 1).

Today, the market from the level of 1.3795 (closing of last Friday's daily candlestick) may start moving upwards with the target of 1.3850 - the retracement level of 14.6% (blue dashed line). Upon testing this line, the upward movement may continue with the target of 1.3891 - the retracement level of 23.6% (blue dashed line). From this level, it is possible to continue the upward movement with the target of 1.3956 - the retracement level of 38.2% (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3795 (closing of last Friday's daily candlestick) may start moving upwards with the target of 1.3850 - the retracement level of 14.6% (blue dashed line). Upon testing this line, the upward movement may continue with the target of 1.3891 - the retracement level of 23.6% (blue dashed line). From this level, it is possible to continue the upward movement with the target of 1.3956 - the retracement level of 38.2% (blue dashed line).

Alternative scenario: from the level of 1.3795 (closing of last Friday's daily candlestick), it may continue to move down with the target at 1.3752 - the retracement level of 85.4% (red dotted line). And then, an upward movement is possible from this level, with the target at 1.3850 - the retracement level of 14.6% (blue dashed line).