FX.co ★ Indicator Analysis. Daily review for the GBP/USD currency pair 03/29/21

Trend Analysis (Fig. 1).

Today, the market may continue to move up from the level of 1.3785 (the closing of Friday's daily candle) with a target of 1.3882 – a pullback level of 38.2% (blue dotted line). When testing this level, it is possible to continue working up with the target of 1.3948 – a 50% pullback level (blue dotted line).

Figure 1 (daily chart).

Comprehensive Analysis:

- Indicator Analysis – up

- Fibonacci Levels – up

- Volumes – up

- Candle Analysis – up

- Trend Analysis – up

- Bollinger Bands – up

- Weekly Chart – up

General Conclusion:

Today, the price may continue to move up from the level of 1.3785 (the closing of Friday's daily candle) with the goal of 1.3882 – a pullback level of 38.2% (blue dotted line). When testing this level, it is possible to continue working up with the target of 1.3948 – a pullback level of 50% (blue dotted line).

Alternative scenario: from the level of 1.3785 (the closing of Friday's daily candle), the price may start moving down with the target of 1.3723 at the support line of the ascending channel (the red bold line). When testing this line, it is possible to start working up with a target of 1.3800 – a pullback level of 23.6% (blue dotted line).