FX.co ★ Indicator analysis. Daily review for the GBP/USD pair on June 23, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.3946 (closing of yesterday's daily candlestick) will try to continue moving upwards in order to reach the 50% retracement level - 1.4009 (blue dotted line). If this level is tested, it is possible to continue working upward with the target of 1.4061 - the 61.8% retracement level (blue dashed line). And upon reaching this line, it is possible to roll back downwards.

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3946 (closing of yesterday's daily candlestick) will try to continue moving upwards in order to reach the 50% retracement level - 1.4009 (blue dotted line). If this level is tested, it is possible to continue working upward with the target of 1.4061 - the 61.8% retracement level (blue dashed line). And upon reaching this line, it is possible to roll back downwards.

Alternative scenario: the price from the level of 1.3946 (closing of yesterday's daily candlestick) will try to continue moving upwards in order to reach the 8 EMA - 1.3971 (blue thin line). Once this line is tested, it is possible to move downward with the target of 1.3923 - the support line (red bold line). And upon testing this line, it is possible to work upward.