FX.co ★ Indicator analysis. Daily review on GBP / USD for July 31, 2020

Trend analysis (Fig. 1).

The market may continue to move upward from the level of 1.3096 (closing of yesterday's daily candle) with the target of 1.3160 - a 161.8% target level (blue dotted line). From this level, the upward trend may continue with the next target at the historical resistance level of 1.3350 (blue dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger lines - up;

- Weekly chart - up.

General conclusion:

Today the price may continue to move upward from the level of 1.3096 (closing of yesterday's daily candle) with the target of 1.3160 - a 161.8% target level (blue dashed line). From this level, the price may continue to move upward with the next target at the historical resistance level of 1.3350 (blue dashed line).

Another possible scenario is an upward trend to 1.3160 - a 161.8% target level (blue dotted line). From this level, a downward pullback is possible with the target of 1.3032 - a 14.6% pullback level (red dotted line).