FX.co ★ Indicator analysis. Daily review of the GBP/USD pair for August 20, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.3634 (closing of yesterday's daily candlestick) will try to roll back upwards with the target of 1.3670 - the 14.6% retracement level (blue dotted line). After testing this level, the price may continue to move upward with the target at 1.3701 - the 23.6% retracement level (blue dashed 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 from the level of 1.3634 (closing of yesterday's daily candlestick) will try to roll back upwards with the target of 1.3670 - the 14.6% retracement level (blue dotted line). After testing this level, the price may continue to move upward with the target at 1.3701 - the 23.6% retracement level (blue dashed line).

Alternative scenario: from the level of 1.3634 (closing of yesterday's daily candlestick), the price may continue to move downward with the target at 1.3570 - the lower fractal (red dotted line). From this level, it is possible to move upward.