FX.co ★ Indicator analysis. Daily review of GBP/USD on March 31, 2020

Trend analysis (Fig. 1).

Today, the pair will continue to move down from the level of 1.2418 (closing of Friday afternoon's candle) with the first target at 1.2258, a retreating level of 23.6% (blue dashed line). Upon reaching this line, an upward movement is possible with a target of 1.2518, a retracement level of 61.8% (blue dashed line). From this level, a continuation of the upward movement is possible.

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, a continuation of the down movement is possible with the first target of 1.2258, a retracement level of 23.6% (blue dashed line). Upon reaching this line, the upward movement is likely to continue.

Unlikely scenario: from a retracement level of 23.6% - 1.2258 (blue dashed line) work down with a target of 1.2096, a retracement level of 38.2% (blue dashed line).