FX.co ★ Indicator analysis of GBP/USD on August 29, 2022

Trend analysis (Fig. 1).

On Monday, the price is likely to go down from 1.1735 (closing level of the Friday daily candlestick) to the 261.8% retracement level of 1.1559 (blue dotted line), test the mark, and rise to 14.6% retracement level of 1.1669 (red dotted line). The quote may then extend growth.

Fig. 1 (daily chart).

Complex analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - down;

- trend analysis - down;

- Bollinger bands - down;

- weekly chart down.

Conclusion:

Today, the price is likely to go down from 1.1735 (closing level of the Friday daily candlestick) to the 261.8% retracement level of 1.1559 (blue dotted line), test the mark, and rise to 14.6% retracement level of 1.1669 (red dotted line). The quote may then extend growth.

Alternative scenario: the price may drop from 1.1735 (closing level of the Friday daily candlestick) to 1.1651 historic support (blue dotted line), test the mark, and increase to 14.6% retracement level of 1.1669 (red dotted line).