FX.co ★ Indicator analysis. Daily review of the GBP/USD pair for July 19, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.3761 (closing of last Friday's daily candlestick) may roll back down to the lower fractal - 1.3731 (blue dotted line). Once this level is tested, it is possible to move upward with the target at 1.3803 - the 14.6% retracement level (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

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

General conclusion:

Today, the price from the level of 1.3761 (closing of last Friday's daily candlestick) may roll back down to the lower fractal - 1.3731 (blue dotted line). Once this level is tested, it is possible to move upward with the target at 1.3803 - the 14.6% retracement level (blue dashed line).

Alternative scenario: from the level of 1.3761 (closing of last Friday's daily candlestick), it may roll back down to the lower fractal - 1.3731 (blue dashed line). When this level is tested, it is possible to move downward with the target of 1.3676 - the retracement level of 76.4% (yellow dashed line).