FX.co ★ Indicator analysis. Daily review of GBP/USD on March 12, 2020

Trend analysis (Fig. 1).

Today, after retesting down a retracement level of 85.4% equivalent to 1.2795 (blue dashed line), a downward movement is possible with the target at the lower fractal of 1.2726 (blue dashed line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger Lines - down;

- Weekly schedule - down.

General conclusion:

Today, the price may continue to move down.

An unlikely scenario: from a pullback level of 85.4% equivalent to 1.2785 (blue dashed line) work up with a target of 1.2880, a pullback level of 23.6% (red dashed line).