FX.co ★ Indicator analysis. Daily review of GBP/USD on October 28, 2021

Trend analysis (Fig. 1)

The price from the level of 1.3741 (closing of yesterday's daily candle) is expected to surge today, namely to the target of 1.3792 – the pullback level of 76.4% (yellow dotted line). After testing this level, it may further increase to the target of 1.3837 – the pullback level of 85.4% (yellow dotted line).

Figure 1 (daily chart)

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3741 (closing of yesterday's daily candle) will rise to the target of 1.3792 – the pullback level of 76.4% (yellow dotted line). Once this level is tested, growth may resume to the target of 1.3837 – the pullback level of 85.4% (yellow dotted line).

As an alternative, the price from the level of 1.3741 (closing of yesterday's daily candle) will climb to the target of 1.3792 – the pullback level of 76.4% (yellow dashed line) and then decline to the target of 1.3670 – the pullback level of 38.2% (blue dotted line).