Indicator Analysis. Daily review for the GBP/ USD currency pair 03/09/21

Trend Analysis (Fig. 1).

Today, the market will try to continue moving up from the level of 1.3818 (the close of yesterday's daily candle) with the target of 1.3944 – a pullback level of 85.4% (yellow dotted line). When testing this level, it is possible to move up with the target of 1.4015 at the upper fractal (daily candle from 03/04/2021).

analytics604718865482e.jpg

Figure 1 (daily chart).

Comprehensive Analysis:

- Indicator Analysis – up

- Fibonacci Levels – up

- Volumes – up

- Candle Analysis – up

- Trend Analysis – up

- Bollinger Bands – down

- Weekly Chart - up

General Conclusion:

Today, the price will try to continue moving up from the level of 1.3818 (the close of yesterday's daily candle) with the target of 1.3944 – a pullback level of 85.4% (yellow dotted line). When testing this level, it is possible to move up with the target of 1.4015 at the upper fractal (daily candle from 03/04/.2021).

An unlikely scenario: from the level of 1.818 (the close of yesterday's daily candle), it will try to continue moving down with the target of 1.3639 – the lower border of the Bollinger Line indicator (the black dotted line). When testing this level, it is possible to go down with the target of 1.3562 – a pullback level of 23.6% (red dotted line).

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

Pages