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03.03.202109:42 Forex Analysis & Reviews: Indicator Analysis. Daily review for the GBP/USD currency pair 03/03/21

Yesterday the pair moved down, tested 21 average EMA 1.3896 (black thin line), then the price went up, closing the daily candle at 1.3949. Today, the price will try to continue moving up according to the economic calendar news, it is expected at 9.30 and 12.30 UTC pound, 13.15, 15.00 and 15.30 UTC (dollar).

Trend Analysis (Fig. 1).

Today, the market will try to continue moving up from the level of 1.3949 (the closing of yesterday's daily candle) to reach the upper fractal of 1.4227 (the red dotted line). If this level is tested, it is possible to continue moving up with the target of 1.4290 at the upper limit of the Bollinger Line Indicator (the black dotted line).

Exchange Rates 03.03.2021 analysis

Figure 1 (daily chart).

Comprehensive Analysis:

- Indicator Analysis – up

- Fibonacci Levels – up

- Volumes – up

- Candlestick Analysis – up

- Trend Analysis-up

- Bollinger Bands – up

- Weekly Schedule - up

General Conclusion:

Today, the price will try to continue moving up from the level of 1.3949 (the closing of yesterday's daily candle) to reach the upper fractal of 1.4227 (the red dotted line). If this level is tested, it is possible to continue moving up with the target of 1.4290 at the upper limit of the Bollinger Line Indicator (the black dotted line).

An unlikely scenario: the price will try to start moving down from the level of 1.3949 (the closing of yesterday's daily candle) with the target of reaching the pullback level of 14.6% at 1.3815 (the red dotted 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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