FX.co ★ Indicator analysis. Daily review on GBP / USD for July 6, 2020

Trend analysis (Fig. 1).

Today, the upward trend may continue from the level of 1.2484 (closing of the Friday afternoon candle) with the target of 1.2532 - a 50% pullback level (blue dashed line). If this line is reached, the upward trend may continue with the next target of 1.2598 - a 61.8% pullback level (blue dashed line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, the price may move upward with the target of 1.2532 - a 50% pullback level (blue dashed line). If this line is reached, the upward movement may continue with the next target of 1.2598 - a 61.8% pullback level (blue dashed line).

Another possible scenario is a downward trend from 1.2484 - a 50% pullback level (blue dashed line) with the target at the support line 1.2299 (red bold line).