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FX.co ★ Indicator analysis. Daily review for the GBP/USD currency pair 27/10/2020

Indicator analysis. Daily review for the GBP/USD currency pair 27/10/2020

Trend analysis (Fig. 1). on

Today, the market will try to start moving up from the level of 1.3020 (the closing of yesterday's daily candle) with the goal of 1.3078-a pullback level of 50.0% (blue dotted line). If this level is reached, continue working up with the goal of 1.3173, the rollback level is 61.8% (blue dotted line).

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Figure 1 (daily chart).

Complex Analysis

  • indicator Analysis – up
  • Fibonacci Levels – up
  • Volumes – up
  • Candle Analysis-up
  • Trend Analysis-up
  • Bollinger Bands – up
  • Weekly Chart – up

General conclusion:

The price, from the level of 1.3020 (the closing of yesterday's daily candle), will try to start moving up with the goal of 1.3078 which is a pullback level of 50.0% (blue dotted line). If this level is reached, continue working up with the target of 1.3173 and the rollback level of 61.8% (blue dotted line).

Unlikely scenario: A downward movement with a target of 1.2985 which is a pullback level of 38.2% (red dotted line). If this level is reached, work down with the target of 1.2926 which is the support line (red bold line) and rebound from this line with the upper work.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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