Indicator analysis GBP/USD; daily review Nov 11, 2019
Trend analysis (Fig. 1).
On Monday, the price will move up, with the first target 1.2827 – pullback level 23.6% (red dashed line), if this level is reached, resume work down, with the lower target 1.2610 – pullback level 38.2% (blue dashed line) .
Fig. 1 (daily chart).
Comprehensive analysis:
– Indicator analysis – up;
– Fibonacci levels – up;
– Volumes – up;
– Candlestick analysis – up;
– Trend analysis – up;
– Bollinger Lines – down;
– Weekly schedule – down.
General conclusion:
On Monday, the price may start to move up.
The upper target 1.2827 is a retracement level of 23.6% (red dashed line), if this level is reached, resume work down, with the lower target 1.2610 – a retracement level of 38.2% (blue dashed line).
An unlikely scenario – immediately moving down with a target of 1.3168 – retracement level of 38.2% (blue dashed line).
The material has been provided by InstaForex Company – www.instaforex.com
Source:: Indicator analysis. Daily review on November 11, 2019, on the GBP / USD currency pair.