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13.01.202109:44 Forex Analysis & Reviews: Indicator Analysis. Daily review for the GBP/USD currency pair 01/13/21

Trend Analysis (Figure 1).

Today, the market will try to continue going up from the level of 1.3660 (closing of yesterday's daily candle) in order to reach the upper fractal of 1.3702 (red dotted line) at the daily candle from 01/04/2021. If this level is tested, there will be a further upward movement with the target of 1.3812 in the upper limit of the Bollinger line indicator (black dotted line).

Exchange Rates 13.01.2021 analysis

Figure 1 (daily chart).

Comprehensive Analysis:

  • Indicator Analysis - up
  • Fibonacci levels - up
  • Volumes - up
  • Candle Analysis - up
  • Trend Analysis - up
  • Bollinger Bands - up
  • Weekly Chart - up

General Conclusion:

Today, the price will try to continue going up from the level of 1.3660 (closing of yesterday's daily candle) in order to reach the upper fractal of 1.3702 (red dotted line) at the daily candle from 01/04/2021. If this level is tested, there will be a further upward movement with the target of 1.3812 in the upper limit of the Bollinger line indicator (black dotted line).

Unlikely scenario: the price will try to continue going up from the level of 1.3660 (closing of yesterday's daily candle) with the target of reaching the upper fractal of 1.3702 (red dotted line) at the daily candle from 01/04/2021. In case of testing this level, there will be a further downward movement with the target of 1.3576 - 13 is the average EMA (yellow thin line).

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

Stefan Doll,
Analytical expert of InstaForex
© 2007-2021
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