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29.10.202009:28 Ανάλυση και κριτικές Forex: Indicator analysis: Daily review for the GBP/USD currency pair 29/10/2020

Trend analysis (Fig. 1)

Today, the market, from the level of 1.2986 (the closing of yesterday's daily candle) can start working up with the goal of 1.3078 which is a pullback level of 50.0% (blue dotted line). When this level is reached, continue working up with the goal of 1.3173 which is a rollback level of 61.8% (blue dotted line).

Exchange Rates 29.10.2020 analysis

Figure 1 (daily chart)

Complex analysis

  • Indicator Analysis up
  • Fibonacci Levels up
  • Volumes up
  • Candle Analysis up
  • Trend Analysis up
  • Bollinger Bands up
  • Weekly Chart down

General conclusion:

Today the price will try to make an upward movement with the goal of 1.3078 which is a pullback level of 50.0% (blue dotted line). When this level is reached, continue working up with the goal of 1.3173 which is a rollback level of 61.8% (blue dotted line).

Alternative scenario: The market will try to move up from the level of 1.2986 (the closing of yesterday's daily candle) with the goal of 1.3078 which is a pullback level of 50.0% (blue dotted line) and go down from this level with the goal of 1.2943 support line (red bold 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
InstaForex Group © 2007-2021
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