FX.co ★ Indicator analysis. Daily review on GBP / USD for July 28, 2020

Trend analysis (Fig. 1).

The market may begin to move downward from the level of 1.2883 (closing of yesterday's daily candle) with the target of 1.2808 - a 14.6% pullback level (red dotted line). If this level is reached, the downward trend may continue with the next target of 1.2749 - a 23.6% pullback level (red dotted 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 chart - down.

General conclusion:

Today, the price may begin to move downward from the level of 1.2883 (closing of yesterday's daily candle) with the target of 1.2808 - a 14.6% pullback level (red dotted line). From this level, the price may continue to move downward with the next target of 1.2749 - a 23.6% pullback level (red dotted line).

Another possible scenario is a continuation of the upward trend from the level of 1.2883 (closing of yesterday's daily candle) with the target of 1.3160 (blue dotted line).