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

Indicator analysis. Daily review for the GBP/USD pair on June 11, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.4172 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.4217 - the historical resistance level (blue dotted line). Upon reaching this level, the price may continue to move upward with the target at 1.4247 - the upper fractal (red dotted line).

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Indicator analysis. Daily review for the GBP/USD pair on June 11, 2021

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 1.4172 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.4217 - the historical resistance level (blue dotted line). Upon reaching this level, the price may continue to move upward with the target at 1.4247 - the upper fractal (red dotted line).

Alternative scenario: from the level of 1.4172 (closing of yesterday's daily candlestick), it will try to continue moving upwards with the target of 1.4187 - the upper fractal (daily candle from 06/09/2021). Upon reaching this level, the price may start moving down with the target of 1.4162 - the 14.6% retracement level (red dotted line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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