FX.co ★ Indicator analysis. Daily review of GBP/USD for September 30, 2021

The pair moved down on Wednesday, tested 1.3420 - the support level of the descending channel (yellow bold line), closing the daily candle at 1.3422. Today, the market may move up. News is expected at 12:30 and 14:00 UTC (dollar).

Trend analysis (Fig. 1).

The market may move upward from the level of 1.3422 (closing of yesterday's daily candle) to the target of 1.3483 - the 14.6% retracement level (yellow dashed line) After testing this level, the price may move down with the target of 1.3411 - the lower fractal (yellow dashed line).

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger lines - down;

- Weekly chart - down.

General conclusion:

Today, the price may move upward from the level of 1.3422 (closing of yesterday's daily candle) to the target of 1.3483 - the 14.6% retracement level (yellow dashed line). After testing this level, the price may move downward with the target at 1.3411 - the lower fractal (yellow dashed line).

Alternative scenario: from the level of 1.3422 (closing of yesterday's daily candle), the price may move down to the target of 1.3409 - the 161.8% target level (blue dashed line). After testing this level, the price may move upward with the target of 1.3483 - the 14.6% retracement level (yellow dashed line).