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FX.co ★ Indicator analysis. Daily review of the GBP/USD pair for July 27, 2021

Indicator analysis. Daily review of the GBP/USD pair for July 27, 2021

Trend analysis (Fig. 1).

The market from the level of 1.3814 (the closing level of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.3901 - the 50% retracement level (blue dotted line). Once this line is tested, it is possible to start moving downward.

Indicator analysis. Daily review of the GBP/USD pair for July 27, 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, from the level of 1.3814 (the closing level of yesterday's daily candlestick), the price will try to continue moving upwards with the target of 1.3901 - the 50% retracement level (blue dotted line). Once this line is tested, it is possible to start moving downward.

Alternative scenario: from the level of 1.3814 (the closing level of yesterday's daily candlestick), the price will try to start moving down with the target of 1.3800 - the historical support level (blue dotted line). Once this line is tested, it is possible to continue working downwards with the target of 1.3783 - the support line (yellow bold line). And from this line, it is possible to work upwards.

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