FX.co ★ Indicator analysis. Daily review on GBP / USD for August 10, 2020

Trend analysis (Fig. 1).

The market may continue to move downward from the level of 1.3053 (closing of Friday's daily candle) with the target of 1.2967 - a 23.6% pullback level (red dotted line). If this level is reached, the downward movement may continue with the next target at 1.2830 - a 38.2% pullback level (red dotted line).

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly chart - down.

General conclusion:

Today the price may continue to move downward with the target at 1.2967 - a 23.6% pullback level (red dotted line). If this level is reached, the downward movement may continue with the next target at 1.2830 - a 38.2% pullback level (red dotted line).

Another possible scenario is from the level of 1.3053 (closing of Friday's daily candle), the price may move upwards with the target at the upper fractal at 1.3186 (red dotted line).