FX.co ★ Indicator analysis. Daily review of GBP/USD on March 4, 2020

Trend analysis (Fig. 1).

Today, from the level of 1.2754 (closing of yesterday's candle), a downward movement is possible with the target of 1.2737, a pullback level of 50.0% (yellow dashed line). If this level is reached, continued work down with the target at the support line of 1.2668 (red bold line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - the top;

- Trend analysis - down;

- Bollinger lines - down;

- Weekly schedule - down.

General conclusion:

Today, the price may continue to move down.

An unlikely scenario is from the level of 1.2814 (closing of yesterday's candle) work up with the target of 1.2874, a retracement level of 38.2% (red dashed line).