FX.co ★ Indicator analysis. Daily review on GBP / USD for July 8, 2020

Trend analysis (Fig. 1).

Today, the upward trend is likely to continue from the level of 1.2544 (closing of yesterday's candle) with a target at 1.2598 - a 61.8% retracement level (blue dotted line). Upon reaching this level, the upward may continue with the next target at 1.2680 - a 76.4% retracement level (blue dashed line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, the price may continue to move up with a target at 1.2680 - a 76.4% pullback level (blue dotted line).

Another possible scenario is a downward trend from 1.2598 - a 61.8% retracement level (blue dotted line) with a target at the lower fractal 1.2438.