Indicator analysis. Daily review of GBP/USD on November 9, 2021

Trend analysis (Fig. 1).

Today, the price from the level of 1.3560 (closing of yesterday's daily candle) will try to resume its growth to the target of 1.3628 – the pullback level of 50% (yellow dotted line). After this line is tested, the upward movement will continue to the target of 1.3677 – the pullback level of 61.8% (yellow dotted line).

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Figure 1 (daily chart)

Comprehensive analysis:

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

General conclusion:

The price from the level of 1.3560 (closing of yesterday's daily candle) will attempt to continue rising to the target of 1.3628 – the pullback level of 50% (yellow dotted line). Once this line is tested, it may rise higher to the target of 1.3677 – the pullback level of 61.8% (yellow dotted line).

As an alternative, the price from the level of 1.3560 (closing of yesterday's daily candle) may try to further rise to the target of 1.3580 – the pullback level of 38.2% (yellow dotted line). After testing it, it may decline to the target of 1.3510 – the pullback level of 76.4% (blue dotted line).

The material has been provided by InstaForex Company - www.instaforex.com

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