Indicator analysis. Daily review on GBP / USD for August 24, 2020

Trend analysis (Fig. 1).

The market may begin to move upward from the level of 1.3090 (closing of the Friday's daily candle) with the target of 1.3160 - a 161.8% target level (blue dotted line). When this level is broken, the upward trend will continue with the next target at the upper fractal 1.3267 (red 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:

Today, the price may move upwards with the target of 1.3160 - a 161.8% target level (blue dashed line). When this level is broken, the upward trend may continue with the next target at the upper fractal 1.3267 (red dotted line).

Another possible scenario is a downward trend from the level of 1.3090 (closing of the Friday's daily candle) with the target at the support level of 1.2989 (black bold line). In case of testing this line, an upward rollback is possible.

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