FX.co ★ Indicator analysis. Daily review of GBP/USD for August 30, 2021

The pair traded upward on Friday and tested the 21-day EMA at 1.3772 (black thin line), then closed the daily candle at 1.3757. Today, the price may roll back down. Based on the economic calendar, news is expected at 14:00 UTC (dollar).

Trend analysis (Fig. 1).

The market may begin to move downward from the level of 1.3757 (closing of Friday's daily candlestick) with the target of 1.3737 - a 23.6% retracement level (yellow dashed line). A test of this level may result in an upward pullback with the target at 1.3779 - the upper fractal (yellow 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 chart - down.

General conclusion:

Today, the price may begin to move downward from the level of 1.3757 (closing of Friday's daily candlestick) with the target of 1.3737 - a 23.6% retracement level (yellow dashed line). A test of this level may result in an upward pullback with the target of 1.3779 - the upper fractal (yellow dashed line) is possible.

Alternative scenario: the price may begin to move down from the level of 1.3757 (closing of Friday's daily candlestick) with the target at 1.3737 - a 38.2% retracement level (yellow dashed line). A test of this level may result in an upward pullback with the target of 1.3779 - the upper fractal (yellow dashed line). From here, the upward trend may continue.