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FX.co ★ Analysis of indicators in GBP/USD. Daily review dated September 17, 2021

Analysis of indicators in GBP/USD. Daily review dated September 17, 2021

Trend analysis (Fig. 1)

GBP / USD may move from 1.3790 (closing of yesterday's daily candle) to the 38.2% retracement level (yellow dashed line) - 1.3819. Then, it will be followed with a rise to the 50% retracement level - 1.3837, where a rollback downwards is possible.

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Analysis of indicators in GBP/USD. Daily review dated September 17, 2021

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger bands - up;

- Weekly chart - up.

General conclusion: GBP/USD may rise today from 1.3790 (closing of yesterday's daily candle) to the 38.2% retracement level (yellow dashed line) - 1.3819. Afterwards, it will climb to the 50% retracement level - 1.3837, where a rollback downwards is possible.

As such, it is unlikely for the pair to move down from 1.3790 (closing of yesterday's daily candle) to the support line (yellow bold line) - 1.3760, and drop further to the lower fractal (blue dotted line) - 1.3725.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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