Trend analysis (Fig. 1).
The GBP/USD pair may move downward from the level of 1.3733 (closing of Friday's daily candle) with the target of 1.3679 - the lower fractal (daily candle from 08/27/2021). Upon reaching this level, the price may roll back up with the target of 1.3737 - the resistance line (yellow bold line). When testing this line, further upward movement is possible.
Fig. 1 (daily chart)
Comprehensive analysis:
- Indicator analysis - down;
- Fibonacci levels - down;
- Volumes - down;
- Candlestick analysis - up;
- Trend analysis - down;
- Bollinger lines - down;
- Weekly chart - down.
General conclusion:
Today, the price may move downward from the level of 1.3733 (closing of Friday's daily candlestick) with the target of 1.3679 - the lower fractal (daily candlestick from 08/27/2021). Upon reaching this level, the price may roll back up with the target of 1.3737 - the resistance line (yellow bold line). When testing this line, further upward movement is possible.
Unlikely scenario: the price may move downward from the level of 1.3733 (closing of Friday's daily candle) with the target at 1.3679 - the lower fractal (daily candle from 08/27/2021). When testing this level, the price may continue to move down with the target at 1.3636 - the lower border of the Bollinger line indicator (black dashed line).
