FX.co ★ Indicator analysis. Daily review for the GBP/USD on May 18, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.4129 (closing of yesterday's daily candlestick) will try to continue moving upward with the target of 1.4217 - the historical resistance level (blue dotted line). After testing this level, it is possible to continue working upward with the target at 1.4288 - the upper border of the Bollinger line indicator (black dashed line). 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 1.4129 (closing of yesterday's daily candlestick) will try to continue moving upward with the target of 1.4217 - the historical resistance level (blue dotted line). After testing this level, it is possible to continue working upward with the target at 1.4288 - the upper border of the Bollinger line indicator (black dashed line). Upon reaching this line, it is possible to work down.

Alternative scenario: from the level of 1.4129 (closing of yesterday's daily candlestick), it will try to continue moving upwards with the target at 1.4226 - the upper fractal (blue dashed line). After testing this line, it is possible to move downward with the target of 1.4091 - the 14.6% retracement level (red dashed line).