FX.co ★ Indicator analysis. Daily review of the GBP/USD pair for August 25, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.3724 (closing of yesterday's daily candlestick) will try to continue moving upwards in order to reach the 50.0% retracement level - 1.3791 (blue dotted line). When this level is tested, it is possible to continue working upwards with the target of 1.3835 - the 50.0% 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;
• Weekly chart - up;
• Bollinger lines - down.

General conclusion:

Today, the price from the level of 1.3724 (closing of yesterday's daily candlestick) will try to continue moving upwards in order to reach the 50.0% retracement level - 1.3791 (blue dotted line). When this level is tested, it is possible to continue working upwards with the target of 1.3835 - the 50.0% retracement level (blue dashed line).

Alternative scenario: the price from the level of 1.3724 (closing of yesterday's daily candlestick) will try to start moving downwards in order to reach the 76.4% retracement level, which is 1.3668 (red dotted line). Once this level is tested, the upward movement may continue.