FX.co ★ Indicator analysis. Daily review on GBP / USD for September 3, 2020

Trend analysis (Fig. 1).

The market may continue to move downward from the level of 1.3352 (closing of yesterday's daily candle) with the target at the support level 1.3212 (white thick line). In case of testing this level, an upward pullback is possible with the target at the historical resistance level of 1.3310 (blue dotted line).

Figure: 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 continue to move downward with the target at the support level 1.3212 (white bold line). In case of testing this level, an upward pullback is possible with the target at the historical resistance level of 1.3310 (blue dotted line).

Another possible scenario is, from the level of 1.3352 (closing of yesterday's daily candle) the price may move downward with the target at the support level of 1.3212 (white bold line). From here, the downward trend may continue with the next target at the 21 middle EMA at 1.3175 (black thin line).