04.01.202209:49 Forex Analysis & Reviews: Indicator analysis: Daily review of GBP/USD for January 4, 2021

Trend analysis (Fig. 1).

The market may move down on Tuesday from the level of 1.3475 (closing of yesterday's daily candle) to the target level of 1.3403, the 38.2% retracement level (red dotted line). When testing this level, the price may move upward to the target level of 1.3501, the 50.0% retracement level (yellow dotted line).

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger lines - down;

- Weekly chart - down.

General conclusion:

The price may move down from the level of 1.3475 (closing of yesterday's daily candle) to the target level of 1.3403, the 38.2% retracement level (red dotted line). When testing this level, the price may move upward to the target level of 1.3501, the 50.0% retracement level (yellow dotted line).

Alternative scenario: from the level of 1.3475 (closing of yesterday's daily candle), the price may move down to the target level of 1.3430, the lower fractal (daily candle from 03/01/2022). When testing this level, the price may move upward.