FX.co ★ Indicator analysis. GBP/USD daily review on November 1, 2021

Trend analysis (fig. 1).

On Monday, the market may start upward movement from 1.3687 (Friday's daily candle closing) with the target at 1.3719, the 61.8% retracement level (yellow dotted line). While reaching this level, the price may continue upward movement with the target at 1.3792, the 76.4% retracement level (yellow dotted line).

Fig. 1 (daily chart).

Complex analysis:

- indicator analysis - uptrend;

- Fibonacci levels - uptrend;

- volumes - uptrend;

- candlestick analysis - uptrend;

- trend analysis - uptrend;

- Bollinger bands - uptrend;

- weekly chart - uptrend.

General conclusion:

Today, the price may start upward movement from 1.3687 (Friday's daily candle closing) with the target at 1.3719, the 61.8% retracement level (yellow dotted line). While reaching this level, the price may continue upward movement with the target at 1.3792, the 76.4% retracement level (yellow dotted line).

Unlikely scenario: the price may continue downward movement from 1.3687 (Friday's daily candlestick close) with the target at 1.3620, the 50.0% retracement level (blue dotted line). While reaching this level, the price may start upward movement with the target at 1.3678, resistance line (blue bold line). After reaching this line, further upward movement is observed.