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

Trend analysis (Fig. 1).

Today, the market from the level of 1.3958 (closing of yesterday's daily candlestick) may continue to move upward with the target of 1.4009 - the 50.0% retracement level (blue dotted line). Upon reaching this level, the upward movement may continue with the target of 1.4061 - the 61.8% retracement level (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3958 (closing of yesterday's daily candlestick) may continue to move upward with the target of 1.4009 - the 50.0% retracement level (blue dotted line). Upon reaching this level, the upward movement may continue with the target of 1.4061 - the 61.8% retracement level (blue dashed line).

Alternative scenario: from the level of 1.3958 (closing of yesterday's daily candlestick), it may continue to move upward with the target of 1.3998 - 13 average EMA (yellow thin line). Upon reaching this level, it is possible to start moving downward with the target of 1.3928 - the support line of the ascending channel (red bold line). And after testing this line, it is possible to move upwards.