FX.co ★ Indicator analysis. Daily review of the GBP/USD currency pair for February 18, 2021

Trend analysis (Fig. 1).

Today, from the level of 1.3855 (closing of yesterday's daily candle), the market may continue to move down with the target of 1.3805 - the 13 EMA (yellow thin line). When testing this line, it is possible to continue working downwards with a target of 1.3762 - the 21 period EMA (black thin line).

Figure 1 (Daily Chart).

Comprehensive analysis:

• Indicator analysis - down;
• Fibonacci levels - down;
• Volumes - down;
• Candlestick analysis - down;
• Trend analysis - down;
• Bollinger bands - down;
• Weekly chart - down.

General conclusion:

Today, the price from the level of 1.3855 (closing of yesterday's daily candle) may continue to move down with the target of 1.3805 - the 13 EMA (yellow thin line). When testing this line, it is possible to continue working downwards with a target of 1.3762 - the 21 period EMA (black thin line).

Unlikely scenario: from the level of 1.3855 (closing of yesterday's daily candle), the pair may start moving up with the target of 1.3944 – the 85.4% retracement level (yellow dotted line). When testing this line, it is possible to continue working upwards with the target of 1.4003 – the upper limit of the Bollinger Line indicator (black dotted line).