Trend analysis:
Further growth may be seen in GBP/USD in September, starting from the closing of the August monthly candle at 1.2669 to the upper fractal located at 1.3141 (yellow dashed line). A pullback may follow upon testing the level.
Fig. 1 (monthly chart)
Comprehensive analysis:
Indicator analysis - uptrend
Fibonacci levels - uptrend
Volumes - downtrend
Candlestick analysis - uptrend
Trend analysis - uptrend
Bollinger bands - uptrend
Conclusion: All signals point to an upward movement in GBP/USD.
Overall conclusion: The pair will have a bullish trend, with no lower shadow on the monthly white candle (the first week of the month is white) and no upper shadow (the last week is white).
Therefore, for this month, pound will rise from 1.2669 (closing of the August monthly candle) to the upper fractal located at 1.3141 (yellow dashed line). A pullback may follow upon testing the level.
Alternatively, the pair could fall from 1.2669 (closing of the August monthly candle) to the 23.6% retracement level at 1.2478 (yellow dashed line), and then rise to the 14.6% retracement level at 1.2752 (yellow dashed line).
