FX.co ★ Analysis of indicators in GDP/USD. Daily review dated September 4, 2021.

Trend analysis (Fig. 1)

GBP / USD will most likely move from 1.3828 (closing of yesterday's daily candle) to the 14.6% Fibonacci retracement (yellow dashed line) - 1.3808, which will be followed with a rebound towards the 75.4% retracement level (blue dashed line) - 1.3891 ... Another decline is possible around this level.

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - down;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger bands - up;

- Weekly chart - up.

General conclusion: GBP / USD will most likely drop from 1.3828 (closing of yesterday's daily candle) to the 14.6% Fibonacci retracement (yellow dashed line) - 1.3808. Then, it will be followed by a rebound towards the 75.4% retracement level (blue dashed line) - 1.3891, where another decline is possible.

Unlikely scenario: There is little chance that the pair will decline deeper immediately after a drop from 1.3828 (closing of yesterday's daily candle) to the 14.6% retracement level (yellow dashed line) - 1.3808. As such, it is implausible that the price will hit the 23.6% retracement level (yellow dashed line) - 1.3786, and then rise to the upper fractal (yellow dashed line) - 1.3844.