FX.co ★ Indicator analysis. Daily review of GBP/USD on November 18, 2021

Trend analysis (Fig. 1)

Today, the price from the level of 1.3485 (closing of yesterday's daily candle) will decline to the target of 1.3461 – the pullback level of 23.6% (blue dotted line). After testing this level, the continuation of the upward trend can be expected to the target of 1.3495 – the upper fractal (blue dashed line).

Figure 1 (daily chart)

Comprehensive analysis:

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

General conclusion:

The price from the level of 1.3485 (closing of yesterday's daily candle) is expected to fall to the target of 1.3461 – the pullback level of 23.6% (blue dotted line). Once tested, it may further rise to the target of 1.3495 – the upper fractal (blue dashed line).

As an alternative, the price from the level of 1.3485 (closing of yesterday's daily candle) will decline to the target of 1.3439 – the pullback level of 38.2% (blue dotted line). After testing it, the downward trend may resume to the target of 1.3423 – the pullback level of 50.0% (blue dotted line), and only then it is possible to move upward again.