FX.co ★ Indicator analysis. Daily review on GBP / USD for May 14, 2020

Trend analysis (Fig. 1).

Today, the downward trend is likely to continue from the level of 1.2235 (closing of yesterday's candle) with a target at 1.2174 - a 38.2% pullback level (presented in a blue dotted line). If this level is reached, the downward movement may continue with a target at 1.2029 - a 50.0% pullback level (presented in a red dashed line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - up;

- Trend analysis - down;

- Bollinger Lines - down;

- Weekly schedule - down.

General conclusion:

Today, the price may continue to move downward with a target at 1.2029 - a 50.0% pullback level (presented in a blue dashed line).

Another possible scenario is an upward trend from 1.2174 - a 38.2% pullback level (presented in a blue dashed line) with a target at 1.2351 - a 38.2% pullback level (presented in a red dashed line).