FX.co ★ Indicator analysis. Daily review of the GBP/USD pair for July 14, 2021

Trend analysis (Fig. 1).

The market from the level of 1.3808 (closing of yesterday's daily candlestick) will try to start moving upwards in order to reach the 38.2% retracement level - 1.3922 (blue dotted line). .Upon testing this level, it is possible to continue working upward with the target of 1.3944 - the 85.4% retracement level (yellow dashed line). From this level, downward work is likely.

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3808 (closing of yesterday's daily candlestick) will try to start moving upwards in order to reach the 38.2% retracement level - 1.3922 (blue dotted line). .Upon testing this level, it is possible to continue working upward with the target of 1.3944 - the 85.4% retracement level (yellow dashed line). From this level, downward work is likely.

Alternative scenario: the price from the level of 1.3808 (closing of yesterday's daily candlestick) will try to start moving upwards in order to reach the 23.6% retracement level - 1.3849 (blue dashed line). Once this level is tested, it is possible to continue moving downward with the target of 1.3731 - the lower fractal (blue dashed line). Upward movement is possible from this level.