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21.09.202008:03 Análisis del mercado Forex: Indicator analysis. Daily review on GBP / USD for September 21, 2020

The pair traded downward on Friday after its rebound to the resistance level 1.3000 (red thick line). Today, the price may resume its upward movement. Based on the economic calendar, dollar news is expected at 14:00 UTC.

Trend analysis (Fig. 1).

The market may move upward from the level of 1.2917 (closing of the Friday's daily candlestick) with the target at the resistance level 1.3014 (red bold line). If this line is tested, the upward trendd may continue with the next target of 1.3209 - an 85.4% pullback level (blue dashed line).

Exchange Rates 21.09.2020 analysis

Figure: 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - down;

- Bollinger lines - up;

- Weekly chart - up.

General conclusion:

Today, the price may continue to move upward with the target at the resistance level 1.3014 (red bold line). If this line is tested, the upward trend may continue with the next target of 1.3209 - an 85.4% pullback level (blue dashed line).

Another possible scenario: upon reaching the resistance level 1.3014 (red bold line), the price may begin to move downward with the target of 1.2866 - a 50% pullback level (red dashed line).

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Stefan Doll,
Experto Analítico
Grupo InstaForex © 2007-2021
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