FX.co ★ Indicator analysis. Daily review of GBP/USD on March 10, 2020

Trend analysis (Fig. 1).

Today, from the retracement level of 76.4% equivalent to 1.3097 (red dashed line), it is possible to move down with the target of 1.3020, a retracement level of 38.2% (blue dashed line). From this line, work up with the target at the resistance line 1.3141 (black bold line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, the price may begin to roll back down.

An unlikely scenario: from a pullback level of 23.6% equivalent to 1.3020 (blue dashed line), work down with a target of 1.2963, a pullback level of 50.0% (blue dashed line).