FX.co ★ Indicator analysis. Daily review on GBP / USD for August 19, 2020

Trend analysis (Fig. 1).

The market may continue to move upward from the level of 1.3240 (closing of yesterday's daily candle) with the target of 1.3359 located at the upper boundary of the Bollinger line indicator (purple dotted line). In case of testing this level, a downward pullback is possible with the target of 1.3190 - a 14.6% pullback level (red dotted line).

Figure: 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger lines - up;

- Weekly chart - up.

General conclusion:

Today, the price may continue to move upward from the level of 1.3240 (closing of yesterday's daily candle) with the target of 1.3359 located at the upper border of the Bollinger Band indicator (purple dashed line).

Another possible scenario is from the level of 1.3240 (closing of yesterday's daily candle), the price may begin to move down with the target of 1.3160 - a 161.8% target level (blue dashed line).