logo

FX.co ★ Indicator analysis. Daily review of GBP/USD on October 14, 2021

Indicator analysis. Daily review of GBP/USD on October 14, 2021

Trend analysis (Fig. 1)

The price from the level of 1.3657 (closing of yesterday's daily candle) is expected to grow today to the target of 1.3719 – the pullback level of 61.8% (yellow dotted line). After testing this level, a downward pullback is possible with the target of 1.3674 – the pullback level of 14.6% (blue dotted line).

See also: Start Forex trading with a European level broker!
Indicator analysis. Daily review of GBP/USD on October 14, 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 1.3657 (closing of yesterday's daily candle) will increase to the target of 1.3719 – the pullback level of 61.8% (yellow dotted line). Once this level is tested, there may be a downward pullback with the target of 1.3674 – the pullback level of 14.6% (blue dotted line).

Alternatively, the price from the level of 1.3657 (closing of yesterday's daily candle) may rise to the target of 1.3716 – the resistance line (yellow bold line). After this line is tested, the upward movement may continue to the target of 1.3792 – the pullback level of 76.4% (yellow dotted line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account