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28.10.202009:20 Forex Analysis & Reviews: Indicator analysis: Daily review for the GBP/USD currency pair 28/10/2020

Trend analysis (Fig. 1).

Today, the market will try to continue moving up from the level of 1.3043 (closing of yesterday's daily candle) in order to reach the pullback level of 61.8% - 1.3173 (blue dotted line). If this level is tested, a pullback may begin down to the target of 1.3104 which is a pullback level of 14.6% (red dotted line).

Exchange Rates 28.10.2020 analysis

Figure 1 (daily chart).

Complex analysis:

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

General conclusion:

The price, from the level of 1.3043 (closing of yesterday's daily candle), will try to continue moving up to reach the pullback level of 61.8% - 1.3173 (blue dotted line). If this level is tested, a pullback may begin down to the target of 1.3104 which is a pullback level of 14.6% (red dotted line).

Unlikely scenario: The price, from the level of 1.3043 (closing of yesterday's daily candle), will work up to reach the 50% pullback level-1.3078 (blue dotted line). In the case of testing this level-work down to the goal of 1.2986 which is a pullback level of 38.2% (red dotted 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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