Indicator analysis. Daily review of GBP/USD on March 3, 2020

Trend analysis (Fig. 1).

Today, from the level of 1.2755 (closing yesterday's candle), an upward movement is possible with the target of 1.2871, a retracement level of 38.2% (red dashed line). If this level is reached, work down with the target at the lower fractal 1.2726.


Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - the top;

- Trend analysis - down;

- Bollinger Lines - up;

- Weekly schedule - down.

General conclusion:

Today, the price may roll back up, on a downward trend.

An unlikely scenario is from a pullback level of 23.6% equivalent to 1.2792 (red dotted line), work down with the target at the support line of 1.2663 (red bold line).

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