FX.co ★ Indicator analysis. Daily review for the GBP/USD pair on April 20, 2021

Trend analysis (Fig. 1).

On Tuesday, the market from the level of 1.3981 (closing of yesterday's daily candlestick) will attempt to continue moving upwards with the target of 1.4013 - the 61.8% retracement level (blue dotted line). After testing this level, it is possible to continue working upwards with the target of 1.4095 - the 76.4% retracement level (blue dashed line). And upon reaching this line, it may continue working upward.

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, the price from the level of 1.3981 (closing of yesterday's daily candlestick) will attempt to continue moving upwards with the target of 1.4013 - the 61.8% retracement level (blue dashed line). After testing this level, it is possible to continue working upwards with the target of 1.4095 - the 76.4% retracement level (blue dashed line). And upon reaching this line, it may continue working upward.

Alternative scenario: from the level of 1.3981 (closing of yesterday's daily candlestick), the pair will try to continue moving upwards with the target of 1.4013 - the 61.8% retracement level (blue dashed line). After testing this level, it is possible to work downward with the target of 1.3900 - 5 EMA (red thin line).