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

Trend analysis (Fig. 1).

The market may continue to move upward from the level of 1.3352 (closing of Friday's daily candle) with the target at the upper fractal 1.3515 (blue dotted line). From here, the price may move downward with the target at 1.3329 - a 14.6% pullback level (red dotted line).

Figure: 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger lines - up;

- Weekly chart - up.

General conclusion:

Today the price may continue to move upwards with the target at the upper fractal 1.3515 (blue dotted line). From here, the price may move downward with the target of 1.3329 - a 14.6% pullback level (red dotted line).

Another possible scenario is from the level of 1.3352 (closing of Friday's daily candle), the price may move down with the target at 1.3216 - a 23.6% pullback level (red dotted line).