FX.co ★ Indicator analysis. Daily review on GBP / USD for July 16, 2020

Trend analysis (Fig. 1).

Today, the market may roll back down from the level of 1.2585 (closing of yesterday's candle) with the target of 1.2511 - a 38.2% pullback level (red dotted line). In case of breaking this level downward, the next target will be 1.2461 - a 50.0% pullback level (red dashed line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - up;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - down;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, the price may roll back down with the target of 1.2511 - a 38.2% pullback level (red dotted line). In case of breaking this level downward, the next target will be 1.2461 - a 50.0% pullback level (red dashed line).

After the news, an upward trend may take place with the target of 1.2681 - a 76.4% pullback level (blue dashed line). Upon reaching this level, a downward pullback is possible with a target of 1.2609 - a 14.6% pullback level (red dashed line).