FX.co ★ Indicator analysis. Daily review on GBP / USD for June 4, 2020

Trend analysis (Fig. 1).

Today, a downward pullback is possible from the level of 1.2575 (closing of yesterday's candle) with the target of 1.2536 - a 14.6% pullback level (presented in a red dotted line). If this level is broken down, the downward trend may continue with the target of 1.2488 - a 23.6% retracement level (presented in a red 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 schedule - up.

General conclusion:

Today, the price may move downwards with the target of 1.2536 - a 14.6% retracement level (presented in a red dotted line). If this level is broken down, the downward trend may continue with the target of 1.2488 - a 23.6% retracement level (presented in a red dashed line).

Another possible scenario is an upward trend after working down to 1.2536 - a 14.6% pullback level (presented in a red dashed line) with the target at the resistance line 1.2615 (presented in a red bold line).