FX.co ★ Indicator analysis. Daily review on GBP / USD for May 18, 2020

Trend analysis (Fig. 1).

Today, an upward movement is possible from the level of 1.2108 (closing of the Friday afternoon candle) with the target of 1.2160 - a 14.6% retracement level (presented in a red dashed line). If this line is reached, the upward movement is likely to continue with the next target at the resistance line 1.2265 (presented in a red bold line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, the price may move upward with the target at the resistance line 1.2265 (presented in a red bold line).

Another possible scenario is a downward trend from 1.2160 - a 14.6% retracement level (presented in a red dashed line) with the target of 1.1884 - a 61.8% retracement level (presented in a blue dashed line).