FX.co ★ Indicator analysis of GBP/USD on May 5

Trend analysis (fig. 1).

Today, the pair is likely to grow to the target level of 1.2644, the upper border of the Bollinger line (black dotted line) from 1.2569, the closing of yesterday's daily candlestick. After reaching this line, it may fall to 1.2564, the Fibonacci retracement level of 23.6% (blue dotted line).

Fig. 1 (daily chart).

Complex analysis:

- indicator analysis – up;

- Fibonacci retracement levels – up;

- trading volumes – up;

- candlestick analysis – up;

- trend analysis – up;

- Bollinger lines – up;

- weekly chart - up.

Conclusion:

Today, the pair is likely to grow to the target level of 1.2644, the upper border of the Bollinger line (black dotted line) from 1.2569, the closing of yesterday's daily candlestick. After reaching this line, it may fall to 1.2564, the Fibonacci retracement level of 23.6% (blue dotted line).

Alternatively, the price is likely to grow to the target level of 1.2644, the upper border of the Bollinger line (black dotted line) from 1.2569, the closing of yesterday's daily candlestick. After hitting this line, it could decrease to 1.2590, the Fibonacci retracement level of 14.6% (blue dotted line). After testing this level, it may advance.