Indicator analysis. Daily review for the GBP/USD pair for August 23, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.3620 (closing of last Friday's daily candlestick) may start moving upwards with the target of 1.3691 - the 23.6% retracement level (blue dotted line).

When this line is tested, the upside work may continue with the target at 1.3746 - the 38.2% retracement level (blue dashed line).

Figure 1 (Daily Chart).

Comprehensive analysis:

Indicator analysis - up;Fibonacci levels - up;Volumes - up;Candlestick analysis - down;Trend analysis - down;Bollinger lines - down;Weekly chart - up.

General conclusion:

Today, the price from the level of 1.3620 (closing of last Friday's daily candlestick) may start moving upwards with the target of 1.3691 - the 23.6% retracement level (blue dotted line).

When this line is tested, the upside work may continue with the target at 1.3746 - the 38.2% retracement level (blue dashed line).

Alternative scenario: the price from the level of 1.3620 (closing of last Friday's daily candlestick) may start moving upward with the target at 1.3656 - the 14.6% retracement level (blue dashed line). Once this level is tested, it may move downward with the target of 1.3601 - the lower fractal (red dotted line). From this level, upward movement is possible.