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20.09.202110:45 Forex Analysis & Reviews: Technical analysis of the GBP/USD pair from Sept 20-25, 2021

Trend analysis

This week, the price from the level of 1.3733 (closing of the last weekly candle) is expected to rise to the target of 1.3828 – the pullback level of 38.2% (yellow dotted line) after a small downward pullback to the support line of 1.3711 (white thick line). After reaching it, may continue its growth to the target of 1.3877 – the pullback level of 50.0% (yellow dotted line).

Exchange Rates 20.09.2021 analysis

Figure 1 (weekly chart)

Comprehensive analysis:

  • Indicator analysis - up
  • Fibonacci levels - up
  • Volumes - up
  • Candlestick analysis - up
  • Trend analysis - up
  • Bollinger lines - up
  • Monthly chart - up

An upward movement can be concluded based on a comprehensive analysis.

The overall result of the candlestick calculation based on the weekly chart: the price will most likely move in an upward trend, both with the first lower shadow (Monday - down) and with the second upper shadow (Friday - down) in the weekly white candlestick.

The price from the level of 1.3733 (closing of the last weekly candle) will move up to the target of 1.3828 – the pullback level of 38.2% (yellow dotted line) after a small downward pullback to the support line of 1.3711 (white thick line). Once this level is reached, it may further rise to the target of 1.3877 – the pullback level of 50.0% (yellow dotted line).

As an alternative, the price from the level of 1.3733 (closing of the last weekly candle) may fall to the target of 1.3577 – the pullback level of 23.6% (red dotted line). After testing this line, it may rise to the target of 1.3669 – the pullback level of 14.6% (yellow dotted line).

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

Stefan Doll,
Chuyên gia phân tích của InstaForex
© 2007-2021
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