FX.co ★ Indicator analysis. Daily review on GBP / USD for September 2, 2020

Trend analysis (Fig. 1).

The market may begin to move down from the level of 1.3385 (closing of yesterday's daily candle) with the target of 1.3302 - a 14.6% pullback level (red dotted line). If this level is tested, the downward trend may continue with the next target of 1.3192 - a 23.6% pullback level (red dotted line).

Figure: 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly chart - up.

General conclusion:

Today, the price may move down from the level of 1.3385 (closing of yesterday's daily candle) with the target of 1.3302 - a 14.6% pullback level (red dotted line). If this level is tested, the downward trend may continue with the next target of 1.3192 - a 23.6% pullback level (red dashed line).

Another possible scenario is a downward trend from the level of 1.3385 (closing of yesterday's daily candle) with the target at 1.3302 - a 14.6% pullback level (red dashed line). From here, the price may roll back up with the target at the upper fractal 1.3482 (red dotted line).