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Indicator analysis. Daily review on August 28, 2019 for the GBP/ USD currency pair

Trend analysis (Fig. 1).

On Wednesday, the price may begin to move down, with the target of 1.2197 - a pullback level of 38.2% (blue dashed line).

analytics5d6628a3980af.png

Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - down;

- trend analysis - down;

- Bollinger Lines - up;

- weekly schedule - down.

General conclusion:

On Wednesday, the price may continue to move down.

An unlikely scenario is an upward movement with a break through of the resistance line 1.2299 (red bold line).

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