Indicator analysis of GBP/USD for September 6, 2021

Trend analysis (Fig. 1)

On Monday, the price is expected to move down from 1.3856 (the closing level on Friday) with the target at the 23.6% retracement level of 1.3822 (the yellow dotted line).

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Fig. 1 (daily chart)

Comprehensive analysis:

- indicator analysis - downtrend

- Fibonacci levels analysis - downtrend

- volume analysis - downtrend

- candlestick analysis - downtrend

- trend analysis - downtrend

- Bollinger bands analysis - downtrend

- weekly chart analysis - downtrend

Summary:

Today, the price is expected to move down from 1.3856 (the closing level on Friday) with the target seen at the 23.6% retracement level of 1.3822 (the yellow dotted line). In case the quote tests this level, the downward trend is likely to extend with the target at the 38.2% retracement level of 1.3780 (the yellow dotted line).

Alternatively, the price is expected to move down from 1.3856 (the closing level on Friday) with the target at the 23.6% retracement level of 1.3822 (the yellow dotted line). If the quote tests this level, the upward trend may extend with the target set at 1.3890, the upper fractal (the yellow dotted line).

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

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