FX.co ★ Indicator analysis. Daily review of the GBP/USD currency pair for April 1, 2021

Trend analysis (Fig. 1).

On Thursday, the market may continue to move upward from the level of 1.3777 (closing of yesterday's daily candlestick) to the target of 1.3882 - the 38.2% retracement level (blue dotted line). When testing this level, it is likely to continue working upward to the target of 1.3950 - the 50% retracement level (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, from the level of 1.3777 (closing of yesterday's daily candlestick), the price may continue to move upward with the target of 1.3882 - the retracement level of 38.2% (blue dotted line). When testing this level, it is likely to continue working upward to the target of 1.3950 - the 50% retracement level (blue dashed line).

Alternative scenario: from the level of 1.3777 (closing of yesterday's daily candlestick), the pair may start moving down to the target at 1.3669 - the lower fractal (blue dashed line). When testing this level of work upwards to the target of 1.3750 - the retracement level of 14.6% (blue dashed line).