FX.co ★ Indicator analysis. Daily review for the GBP/USD pair on May 11, 2021

Trend analysis (Fig. 1).

On Tuesday, the market from the level of 1.4113 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.4157 - the upper fractal (red dotted line). After testing this line, it is likely to continue working upwards with the target of 1.4186 - the upper border of the Bollinger line indicator (black dashed line). And upon reaching this line, it is possible to work down.

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.4113 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.4157 - the upper fractal (red dotted line). After testing this line, it is likely to continue working upwards with the target of 1.4186 - the upper border of the Bollinger line indicator (black dashed line). And upon reaching this line, it is possible to work down.

Alternative scenario: from the level of 1.4113 (closing of yesterday's daily candlestick), it will try to continue moving upwards with the target at 1.4157 - the upper fractal (red dotted line). After testing this line, it may work downward with the target of 1.4085 - the 14.6% retracement level (red dashed line).