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FX.co ★ Indicator analysis. Daily review of GBP/USD for September 23, 2021

Indicator analysis. Daily review of GBP/USD for September 23, 2021

Trend analysis (Fig. 1).

The market may move up from the level of 1.3615 (closing of yesterday's daily candle) to the target of 1.3652 - the 14.6% retracement level (yellow dashed line). A test of this level may lead to continued upward movement with the target of 1.3679 - the 23.6% retracement level (yellow dashed line).

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Indicator analysis. Daily review of GBP/USD for September 23, 2021

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly chart - up.

General conclusion:

Today, the price may move up from the level of 1.3615 (closing of yesterday's daily candle) to the target of 1.3679 - the 23.6% retracement level (yellow dashed line). A test of this level may lead to continued upward movement with the target of 1.3724 - the 38.2% retracement level of (yellow dashed line).

Alternative scenario: from the level of 1.3615 (closing of yesterday's daily candle), the price may move up to the target of 1.3652 - the 14.6% retracement level (yellow dashed line). A test of this level may lead to a downward pullback with the target of 1.3548 - the lower border of the Bollinger line indicator (black dashed line). From here, an upward pullback is possible.

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