Daily review of Indicator analysis for GBP / USD pair on April 18, 2019

On Wednesday the market moved in the side channel. Traders could not decide whether the support line of 1.3067 (yellow thin line) was broken or not. On Thursday, a strong calendar news comes out at 9.30 and 13.30 London time.

Trend analysis (Fig. 1).

On Thursday, the technical analysis gives a downward movement. The first lower target is at 1.3002, which is the 38.2% pullback level (blue dashed line).

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Fig. 1 (daily schedule).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis is neutral;

- trend analysis - down;

- Bollinger lines - down;

- weekly schedule - up.

General conclusion:

On Thursday, the technical analysis gives a downward movement. The first lower target is at 1.3002, which is the 38.2% pullback level (blue dashed line).

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

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