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14.10.202110:27 Forex Analysis & Reviews: 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).

Exchange Rates 14.10.2021 analysis

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).

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Stefan Doll,
Analytical expert of InstaForex
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